Stephon Gilmore will serve as a huge upgrade to the Colts secondary. Kirby Lee-USA TODAY Sports

The Indianapolis Colts have made another big offseason move.

Stephon Gilmore has signed with the Colts, according to multiple reports. The deal is worth $23 million over two seasons and includes $14 million guaranteed.

The Colts also signed veteran safety Rodney McLeod earlier this week. Defensive back was a big need for them heading into 2022, and they have done a good job of addressing that thus far.

Gilmore will turn 32 in September. The former Defensive Player of the Year suffered a torn quadriceps muscle toward the end of the 2020 season, but he appeared healthy down the stretch last year. Gilmore appeared in eight games for the Carolina Panthers after they acquired him in a trade with the New England Patriots. He had two interceptions.

We know of one other AFC team that was very interested in Gilmore.

The Colts fell just short of reaching the postseason last year. They made a major upgrade at quarterback when they acquired Matt Ryan. That move coupled with their veteran signings should have them right back in the hunt.

More must-reads:

TODAY'S BEST
Pacers ride historic shooting performance to Game 7 blowout of Knicks
Watch: Aaron Judge blasts 13th home run in Yankees' seventh straight win
Knicks' Jalen Brunson suffers serious injury in Game 7 vs. Pacers
Phil Foden lifts Manchester City to fourth consecutive English Premier League title
Dodgers add recently acquired left-hander to active roster
Report: 2023 No. 7 pick expected to terminate KHL contract, join Flyers
Mavericks advance to Western Conference Finals aided by controversial call late
Connor McDavid, Oilers hammer Canucks to force Game 7
Tyson Fury-Oleksandr Usyk epic increases excitement for potential rematch
Seize the Grey wins in muddy Preakness
Even Mike Budenholzer admits the Suns need a point guard
Watch: Juan Soto's first multi-homer game as a Yankee
Xander Schauffele, Collin Morikawa lead at PGA Championship
Knicks could get major boost for Game 7 showdown with Pacers
Giants All-Star pitcher suffers setback in recovery from injury
Panthers star named winner of 2024 Selke Trophy
WNBA to investigate $100,000 sponsorship deals for Aces players
Tiger Woods blames one big factor for missing the cut at PGA Championship
'Ain't good enough': Draymond Green claims Celtics must 'win it all' or it's a 'failure'
Blue Jays GM wants struggling club to feel 'massive sense of urgency'