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Colts surprisingly release ex-Pro Bowler two years after $22.5 million deal

Originally posted on NFL on ClutchPoints
By Jaren Kawada | Last updated Apr 10, 2025 1:16 PM ET

After just two seasons with the Indianapolis Colts, Matt Gay is back on the market as a free agent. The Colts released their kicker two weeks ahead of the 2025 NFL Draft, freeing up an additional roster spot and salary cap flexibility.

The Colts announced the release of their Pro Bowl kicker on social media. Gay, a former fifth-round pick, was just two years into his record-breaking $22.5 million contract, which was then the largest for a kicker in NFL history. He hit 82 percent of his field goal attempts in his two years with the Colts but struggled from distance, connecting on just 11 of his 22 attempts beyond 50 yards.

Cutting Gay saves the Colts a couple million in cap space. Gay was on track to receive a $6.75 million cap hit in 2024, making him one of the league’s highest-paid kickers. With his injury struggles and inconsistency, Gay entered the 2025 offseason as one of the team’s biggest liabilities.

By releasing Gay, the Colts are seemingly ready to hand the job to Spencer Shrader, whom the team signed twice during the 2024 season. Shrader is the only other kicker currently on the roster. After an eventful rookie season spent with three different teams, the Indianapolis native is best known for kicking a game-winning field goal for the Kansas City Chiefs in Week 12.

Colts’ kicker struggles over past five years

Indianapolis Colts place kicker Matt Gay (7) kicks a field goal Sunday, Jan. 5, 2025, during a game against the Jacksonville Jaguars at Lucas Oil Stadium in Indianapolis. Christine Tannous/IndyStar / USA TODAY NETWORK via Imagn Images

Releasing Matt Gay potentially sends the Colts on another kicker hunt in what seems to be an annual tradition. As the longtime home of Adam Vinatieri, the NFL’s all-time leading scorer, Indianapolis was once known for stability at the position, but has struggled to maintain that over the last half decade.

Since Vinatieri’s retirement in 2019, the Colts have bounced around from kicker to kicker. Chase McLaughlin, Rodrigo Blankenship and Michael Badgley have all had their crack at the job but none were able to prove themselves as the long-term solution. Blankenship briefly appeared to be that guy as a fan-favorite player but lasted just 22 games with the team.

This article first appeared on NFL on ClutchPoints and was syndicated with permission.

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