Indianapolis Colts place kicker Matt Gay (7) looks up toward the goal posts Sunday, Nov. 24, 2024, during a game against the Detroit Lions at Lucas Oil Stadium in Indianapolis. Grace Hollars/IndyStar / USA TODAY NETWORK via Imagn Images

Former Colts Kicker Signs with Contender

Originally posted on Indianapolis Colts on SI
By Sean Ackerman | Last updated Apr 29, 2025 11:51 AM ET

The Indianapolis Colts made a bold statement earlier this offseason by releasing veteran kicker Matt Gay in favor of Spencer Shrader.

Gay, 31, spent two years in Indianapolis after signing a four-year, $22.5 million contract in 2023. The team decided to move on from him after bringing back Shrader, who was with the team at points during the 2024 season and missed no field goals in his rookie year.

Gay has reportedly signed a new one-year contract with the Washington Commanders worth over $4.25 million guaranteed. According to Tom Pelissero, it's the most fully guaranteed money for a kicker on a one-year deal in NFL history.

Veteran kicker Matt Gay is signing with the #Commanders on a one-year deal worth over $4.25 million fully guaranteed, per agents @davidcanter and @NessMugrabi of @aurasportsgroup.

It’s the most fully guaranteed money for a kicker on a one-year deal in NFL history. Gay can earn… pic.twitter.com/QY6KnF51TH
— Tom Pelissero (@TomPelissero) April 29, 2025

If he reaches all of his incentives, Gay can earn over $5 million. After being released by Indianapolis, Gay has earned himself a fine opportunity elsewhere.

When the team made the move to release Gay, general manager Chris Ballard said it had everything to do with what Shrader showed during the 2024 season.

“Matt (Gay) is a good kicker. He's still a good kicker," Ballard said. "Matt is still going to be a good kicker in this league. I think a lot of it had to do with Spencer (Shrader). Having Spencer last year gave us a real insight to his talent level. Then he leaves us and performs and performs at two different teams. You know how hard that is? That's difficult now, to go to two different teams and have to perform – that is not easy."

Statistically, Gay struggled from distance in 2024. He made every field goal from within 50 yards, but was 3-for-9 from 50+ yards. On top of those numbers, Gay made every single extra point except for one during his two-year stay.

New #Commanders kicker Matt Gay last season

31/37 FG (84%)
28/28 from <49 yards
3/9 from 50+ yards
33/33 XP

Would be shocked if he’s not the Week 1 starter #RaiseHail
— Mason Kinnahan (@Mason_Kinnahan) April 29, 2025

Shrader, on the other hand, attempted zero field goals from over 45 yards. He made all five of his field goals and all nine of his extra points, displaying elite accuracy with the New York Jets and Kansas City Chiefs in four games played.

The Colts will hope their kicker move pans out in 2025, especially when they need a deep field goal.

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This article first appeared on Indianapolis Colts on SI and was syndicated with permission.

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