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Contract Details: Johnson, Penny, White, Okoronkwo, Lewis

March 25th, 2023 at 5:58pm CST by Ely Allen

Here are some more contract details on deals recently reached around the NFL:

  • Ogbonnia Okoronkwo, DE (Browns): Three years, $19MM. The deal, according to Wilson, includes a guaranteed amount of $12.49MM, $10.83MM of which is guaranteed at signing. That $10.83MM consists of a $5.5MM signing bonus, Okoronkwo’s 2023 base salary of $1.08MM, and his 2024 option bonus of $4.25MM. The remaining $1.66MM of guaranteed money is Okoronkwo’s 2024 base salary, which becomes fully guaranteed on the third league day of the 2024 league year. He also can receive a 2025 option bonus of $3.23MM. The deal includes a $3MM sack incentive and an All-Pro base salary escalator. The team built a potential out into the deal that allows them to release Okoronkwo after 2024 with $6.7MM of dead money but $17.45MM of cap savings over the following five years, four of which are void years in the contract.
  • Mike White, QB (Dolphins): Two years, $8MM. The contract, according to Doug Kyed of AtoZ Sports, includes a guaranteed amount of $4.5MM consisting of a $3.42MM signing bonus and White’s first year base salary of $1.08MM. His second year base salary is worth $3.5MM. The deal includes up to $4MM apiece in playing time and team achievement incentives that up the contract’s maximum value to $16MM.
  • Danny Johnson, CB (Commanders): Two years, $5MM. The contract, according to Aaron Wilson of KPRC 2, includes a guaranteed amount of $2.75MM consisting of a $1.75MM signing bonus and $1MM of Johnson’s first year base salary (worth $1.25MM total). His second year base salary is worth $1.49MM. The deal includes a $1MM annual playing time incentive and a per game active roster bonus of $15,000 for a potential season total of $255,000.
  • Tyquan Lewis, DE (Colts): One year, $2.1MM. The deal, according to Wilson, includes a guaranteed amount of $500,000 from the base salary worth a total of $1.08MM. The contract includes incentives worth up to $1.25MM for sacks, playing time, and playoffs, as well as a per game active roster bonus of $60,000 for a potential season total of $1.02MM.
  • Rashaad Penny, RB (Eagles): One year, $1.35MM. The deal, according to Wilson, has a guaranteed amount of $600,000 composed of a $100,000 signing bonus and $500,000 of the base salary (worth $1.08MM total). The deal includes a rushing yards incentive worth up to $750,000 and a per game active roster bonus of $10,000 for a potential season total of $170,000.

Colts To Sign WR Isaiah McKenzie

March 21st, 2023 at 12:05pm CST by Adam La Rose

Isaiah McKenzie‘s time with the Bills came to an end last week, but he has quickly found a new home. The receiver has agreed to a deal with the Colts, per his agency (Twitter link).

The 27-year-old had a four-plus-year spell in Buffalo, following his time with the Broncos. His production became consistent over that span, and he earned a two-year deal to remain with the Bills last offseason. However, he became a cap casualty in the opening days of free agency amidst other moves the team has made in its receiver room.

McKenzie had a career-year in 2022, posting 423 yards and four touchdowns on 42 catches. Those totals, along with his 1,112 career yards on kick returns, made the slot man one of the more intriguing options available in the second wave of free agents in this year’s class. His roster spot with the Bills became much less secure after they signed Deonte Harty to add to their return game, but McKenzie will now turn his attention to a third AFC employer.

The Colts have a number of taller receivers on their roster, including recent draftees Michael Pittman Jr. and Alec Pierce. Their most expensive wideout in terms of AAV, Ashton Dulin, also comfortably dwarfs McKenzie in size. The latter stands at 5-foot-8, so he will be a unique member of the unit in that regard. He will look to build off of his recent success with Buffalo in particular, though the Colts’ quarterback situation is far different than the one he is departing.

Indianapolis saw Parris Campbell sign with the Giants last week, so McKenzie will look to fill his spot in the lineup. The Colts’ struggles in the passing game over the past few years has no doubt been linked to their never-ending search for a long-term quarterback, but it is also a reflection of their struggles in finding multiple productive wideouts. McKenzie could give them a complimentary option in the slot to match with Pittman and Co. on the outside as the team looks to take a step forward on offense in 2023.

Colts Mulling Lamar Jackson Offer Sheet

March 20th, 2023 at 10:48am CST by Adam La Rose

Amidst the frenzy of free agent deals being handed out over the past few days, the presence of Ravens quarterback Lamar Jackson has hovered over the shifting NFL landscape at the position. Recent deals have seemed to shrink the number of potential suitors for an offer sheet, but one team which has yet to be mentioned in much detail to date on the subject is the Colts.

Indianapolis is one of many teams whose quarterback room would be upgraded with the addition of Jackson, 26. The Colts have an open spot at the top of their depth chart after releasing Matt Ryan and adding a new backup in Gardner Minshew. Jackson could be an option to fill the team’s latest starting vacancy, one which has yet to be addressed on a permanent basis since Andrew Luck‘s retirement.

On that point, ESPN’s Stephen Holder notes that the Colts have not ruled out discussing the possibility of submitting an offer sheet to the former MVP. Several teams – including the Falcons, Panthers, Commanders and Dolphins – have been reported to have little to no interest in adding Jackson. Signing him would require him agreeing to a massive contract offer (quite possibly, one which is fully guaranteed) and the Ravens declining to match. In that instance, the acquiring team would lose their first-round pick in each of the next two years.

Holder adds, though, that the Colts have not taken any “substantive steps” at this point with respect to preparing any firm offers to Jackson. The team, like all others, would be hesitant to do the Ravens’ negotiating for them, and put themselves in a five-day waiting period while the Ravens decide to match or decline any hypothetical offer sheet. Making an enormous financial commitment to the two-time Pro Bowler would be difficult for Indianapolis, even with the cap space created with the Ryan release and the cost-cutting trade of cornerback Stephon Gilmore.

As Holder mentions, owner Jim Irsay has shown a willingness to sign both Luck, and before him, Peyton Manning, to then-record-breaking contracts. While the Jackson situation is different to those former Colts No. 1 picks, there is nevertheless a degree of precedence with Indianapolis and sizeable splashes at the position. Making one in Jackson’s case would represent one avenue to fixing the team’s multi-year QB problem.

The other, of course, is the upcoming draft. The Colts currently hold the No. 4 selection, but with the Panthers and Texans set to pick first and second, respectively, Indianapolis could be faced with the third-best signal-caller in the class being their top option on the board. That reality could steer them towards a push for Jackson, a more known commodity and a player who could fit well in head coach Shane Steichen‘s scheme after his work with another dual-threat quarterback in Jalen Hurts.

With Derek Carr and Jimmy Garoppolo having each signed new free agent deals, and Aaron Rodgers seemingly destined to play for the Jets in 2023, Jackson represents the only starting quarterback still (potentially) available. In the absence of many other known suitors, the Colts could become a team to watch if they decide to actively pursue the latter in the near future.

Colts, QB Gardner Minshew Agree To Deal

March 16th, 2023 at 4:47pm CST by Adam La Rose

The Colts have made the latest addition on the veteran QB market. Indianapolis has agreed to terms on a deal with Gardner Minshew, per NFL Network’s Tom Pelissero (Twitter link).

Pelissero adds that the contract is one year in length and has a base value of $3.5MM, with the potential for more via incentives. His colleague Ian Rapoport tweets that Minshew’s base compensation is fully guaranteed, and that he could earn up to $5.5MM. The $3.5MM is guaranteed, KPRC2’s Aaron Wilson tweets.

The 26-year-old spent the past two seasons with the Eagles, and spent time with then-offensive coordinator Shane Steichen. The latter is now in place as the Colts’ head coach, so this move will give both parties a high degree of familiarity. Minshew is the latest passer to follow the Philadelphia-to-Indianapolis path.

Nick Foles joined the Colts last offseason at the behest of Frank Reich, whose inability to implement a strong passing game during his tenure played a large role in his midseason firing. The Colts have had a revolving door under center for years, and Foles joined Matt Ryan as the latest signal-callers targeted as veteran additions at the position. The latter has been released after he struggled with injuries and underperformed in 2022.

Minshew saw two starts in each of his Eagles seasons, making nine total appearances. Over that span, he posted a passer rating of 92.8, roughly on par with his career figure. He is now three years removed from his time as the Jaguars’ starter coming to an end, but his return to the AFC South could prove to be a good fit.

The Colts gave 2022 sixth-rounder Sam Ehlinger a brief audition amongst their QB uncertainty, but his play in that span did nothing to incentivize the team to look anywhere but at the quarterback position in next month’s draft. Currently holding the No. 4 pick, they will have a prime opportunity to add a long-term solution under center. Whomever is added in the near future, though, they will have an experienced backup behind them on the depth chart.

Gardner Minshew On Colts’ Radar

March 16th, 2023 at 8:53am CST by Sam Robinson

Beyond Jimmy Garoppolo, a buyer’s market took shape at quarterback in free agency this year. But a few teams have made their moves for bridge-level veterans. Baker Mayfield, Jacoby Brissett, Taylor Heinicke and Sam Darnold reached agreements. The Colts, however, have not made a move.

Indianapolis released Matt Ryan, being set to become the rare team to enter a season with a seventh Week 1 starting quarterback in seven years, and saw Carolina trade up to the No. 1 overall spot. The Colts will continue to be connected to rookie options at No. 4, but they should be expected to add a veteran as well. Gardner Minshew has surfaced on Indy’s radar for the latter role, Zak Keefer of The Athletic tweets.

A former Jaguars starter who ended up taking future Colt Nick Foles‘ job in 2019, Minshew spent the past two seasons backing up Jalen Hurts in Philadelphia. New Colts HC Shane Steichen residing in Philly during that span makes this a rather clear connection for the AFC South franchise.

Hurts suffered short-term injuries in each of his two full seasons as the Eagles’ starter, missing a start with an ankle issue in 2021 and suffering a shoulder malady last season. Minshew ended up making four starts in Philly from 2021-22 under Steichen. He fared better in 2021, completing 68.3% of his passes and sporting a solid 60.8 QBR number, but he also started against a bad Jets team and a host of Cowboys backups. Last season, he faced Cowboys starters and a top-10 Saints defense and completed just 57.9% of his throws and threw three touchdown passes and three INTs.

For his career, however, the former sixth-round pick carries an eye-catching 44-to-15 TD-INT ratio. Most of those numbers came for overmatched Jaguars teams as well. Minshew is 8-16 as a starter, but he showed the capabilities of at least being a capable QB1 in Jacksonville. He will be available at a low rate, given what Mayfield and the rest of the above-referenced lot of passers signed for this week.

The Colts still have Foles and Sam Ehlinger under contract, but the franchise should be expected to turn the page (again) at the position this offseason. The team will be connected to a trade-up maneuver in Round 1 or sticking at 4 to select a first-round QB for the first time since Andrew Luck 11 years ago. But Indy will almost definitely have a veteran option in place by that point as well. Minshew’s past with Steichen will make him a strong candidate to fill that role.

Minor NFL Transactions: 3/15/23

March 15th, 2023 at 7:46pm CST by Ben Levine

Today’s minor transactions:

Cincinnati Bengals

Denver Broncos

Green Bay Packers

Indianapolis Colts

Las Vegas Raiders

Los Angeles Chargers

Los Angeles Rams

Miami Dolphins

Minnesota Vikings

Washington Commanders

Smith got a two-year deal from Denver that can max out at $5.5MM, per Mike Klis of 9News in Denver (via Twitter). Smith got a $1.4MM signing bonus to join the Broncos, per Troy Renck of Denver7 (via Twitter). After finishing last in kicker return average in 2022, the Broncos should get a bump from Smith, who averaged 23.9 yards on his 40 kickoff returns for Houston over the past two years.

Colts Re-Sign WR Ashton Dulin, Sign DT Taven Bryan

March 15th, 2023 at 3:34pm CST by Ben Levine

The Colts have finalized contracts with players on both sides of the ball. ESPN’s Jeremy Fowler reports (via Twitter) that the Colts are re-signing wide receiver Ashton Dulin. Meanwhile, ESPN’s Adam Schefter reports (via Twitter) that the Colts are signing defensive tackle Taven Bryan.

Dulin is inking a two-year deal worth $9.2MM. Doug Kyed clarifies (on Twitter) that Dulin will earn $7.2MM and can make another $2MM via incentives and base escalators. The wideout is due $3.5MM in guaranteed money.

Dulin, a 2019 UDFA out of Division II Malone, has transformed into a key special teams player for the Colts. He earned a second-team All-Pro nod in 2021 after he finished with 17 tackles and three fumble recoveries (one of which was returned for a TD), and he’s even seen some time returning kickoffs. Dulin has also managed to contribute on offense, hauling in 28 catches and three touchdowns over the past two seasons.

Bryan will sign a one-year deal worth $4.5MM. The former first-round pick collected 5.5 sacks in four seasons for the Jaguars. After having his fifth-year option declined, he signed with the Browns for the 2022 campaign. The 27-year-old proceeded to start all 16 games for Cleveland, collecting 26 tackles and three sacks.

Colts To Sign DE Samson Ebukam

March 14th, 2023 at 7:04pm CST by Ben Levine

Samson Ebukam has found a new home. The free agent defensive end is signing with the Colts, according to ESPN’s Adam Schefter (via Twitter).

Ebukam is inking a three-year deal with the Colts. The contract can be worth up to $27MM, including more than $11MM due in the first year.

The former fourth-round pick played out his rookie contract with the Rams before inking a two-year deal with the 49ers prior to the 2021 campaign. After starting 11 of his 17 appearances during his first year in San Francisco, Ebukam started all 15 of his appearances in 2022.

He ultimately finished this past season with 36 tackles and career-highs in sacks (five) and QB hits (13). Pro Football Focus only ranked him 72nd among 119 qualifying edge defenders, although they did grade him as an above-average option at the position in 2021. At the very least, he should help fortify a Colts pass rush that’s also brought in linebacker E.J. Speed.

As for the 49ers, the team will need to find a new rusher to play opposite Nick Bosa. With Javon Hargrave now in the picture, Arik Armstead could end up seeing more time on the edge in 2023.

Colts To Release QB Matt Ryan

March 14th, 2023 at 4:55pm CST by Sam Robinson

Shortly after making an unanticipated move, the Colts will follow through with a long-expected item on their offseason to-do list. They are cutting Matt Ryan, Zach Klein of WSB reports (on Twitter).

[RELATED: Colts To Trade Stephon Gilmore To Cowboys]

The Ryan release will create $17.2MM in Colts cap savings. Between this and the Stephon Gilmore trade, Indianapolis has freed up more than $27MM in cap space Tuesday afternoon. While GM Chris Ballard said last year the plan was for Ryan to start multiple seasons, the passer’s 2022 performance leaves his career at a crossroads.

That 2022 performance had more lowlights than highlights, with Ryan finding himself in and out of the starting lineup. When all was said and done, the Colts went 4-7-1 in Ryan’s 12 starts, with the 37-year-old tossing a career-low 14 touchdowns vs. 13 interceptions. The Colts only gave up a third-round pick to acquire the former MVP from the Falcons, but the team was still expecting more from the position.

After getting underwhelming results from veterans like Ryan and Carson Wentz in recent years, it wouldn’t be a shock if the Colts look towards the future. Veteran Nick Foles and former sixth rounder Sam Ehlinger are still on the roster, but it’s unlikely that either QB will be given a long look in 2023.

As for Ryan, the QB will have a difficult time finding a starting gig as a free agent. There were some signs of life in 2022; Ryan’s 67% completion percentage was still on-par with his prime. However, his interception percentage and QBR were among the worst of his career, and with no upside, potential suitors would surely just be eyeing Ryan as a backup and/or mentor. There’s a chance Ryan could also decide to hang up his cleats after playing 15 years in the NFL.

It’s uncertain what’s next for the quarterback, but he’s still entitled to a chunk of money. Per NFL Network’s Ian Rapoport (on Twitter), Ryan’s agent negotiated a new contract as part of his trade to Indianapolis. Thanks to that move, Ryan is entitled to $12MM in guaranteed money for the 2023 campaign, and he’ll receive that money regardless of whether he continues playing or not.

Colts To Trade Stephon Gilmore To Cowboys

March 14th, 2023 at 4:02pm CST by Sam Robinson

The Cowboys plan to pick up the second year of Stephon Gilmore‘s Colts-constructed contract. Indianapolis has agreed on a trade that will send the former Defensive Player of the Year to Dallas, Tom Pelissero and Ian Rapoport of NFL.com reports (on Twitter).

In exchange, the Colts will receive a fifth-round Cowboys compensatory pick in this year’s draft. Gilmore is going into his age-33 season, but he played well in 2022. He will pair with Trevon Diggs in Dallas, which lost multiple cornerback regulars last season.

While Gilmore went through two rocky years following his dominant 2019 campaign, he bounced back with the Colts. Despite Indy’s chaotic season, Gilmore again proved to be a reliable defender. Pro Football Focus ranked the 6-foot-1 defender ninth among corners, and he allowed a 56.2% completion rate and 74.0 passer rating as the closest defender — both his best marks since that 2019 DPOY performance.

This will give the Cowboys a veteran boundary complement to Diggs, who lacked reliable presences opposite the risk-taking All-Pro to close last season. Both Anthony Brown and Jourdan Lewis suffered season-ending injuries, limiting the Cowboys’ upper-echelon defense in coverage. The team still has Lewis under contract, though Brown is a free agent, and plans to re-sign safety Donovan Wilson. Adding Gilmore will give the Cowboys a veteran-laden secondary without a top-tier contract on the books.

Gilmore angled for a new Patriots contract in 2021, doing so after the Pats gave him a one-year pay bump in 2020. But after the quadriceps injury that ended his ’20 campaign early, New England stood down. Gilmore landed on the Pats’ reserve/PUP list to start that season and never played another game with New England, which traded the former first-round pick to Carolina for a late-round selection. Gilmore underwent meniscus surgery during the 2022 offseason, Rapoport adds (on Twitter), and he looked closer to his peak form with the Colts.

Few modern corners have enjoyed seasons on the level of Gilmore’s 2019. The then-30-year-old outside corner rolled to Defensive Player of the Year acclaim during a season in which he intercepted six passes and limited quarterbacks to a collective 44.1 passer rating while in coverage. Gilmore enhanced his reputation considerably in New England, earning two first-team All-Pro nods and helping the team to its sixth Super Bowl title. The Cowboys will call on him to help them negotiate this decades-long hurdle.

After losing yet another divisional-round game, the Cowboys went to work creating cap space by restructuring the deals of Dak Prescott and Zack Martin. The Prescott restructure will provide the veteran QB with more leverage down the road, but it also equipped Jerry Jones’ team with more than $30MM in additional cap space.

One season remains on Gilmore’s two-year, $20MM deal. The Cowboys will take on the former Bills draftee’s $7.96MM salary, and they will count on the 12th-year veteran displaying the form he showed as a Colt last year. The Colts will take on $2MM in dead money by making this trade. They have moved on from multiple starting corners in recent years, trading Rock Ya-Sin to the Raiders in 2022 and now unloading the player they acquired to replace him. Slot staple Kenny Moore remains as Indianapolis’ top cornerback, but the team will need replacements on the outside.

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