Ranking Colts' Offseason Moves So Far, From Worst to Best

In the words of owner Carlie Irsay-Gordon, the sense of urgency has "never been higher" for the Indianapolis Colts and general manager Chris Ballard. Following a seven-game losing streak to end the season, the Irsay sisters have given Ballard and head coach Shane Steichen one more shot to make things right.

The moves the front office makes this offseason will define the 2026 season. Below are my rankings of everything the Colts have done over the past week of action.

13. Signing S Jonathan Owens

Owens adds depth and experience to the secondary, but this signing doesn’t dramatically change the defense. He can contribute on special teams and sub-packages, but over the past few years, he hasn’t consistently been a starter.

12. Re-signing WR Laquon Treadwell

Bringing back Treadwell gives the Colts veteran depth at receiver after the Pittman trade. He played 141 special teams snaps for Indy last year and will likely be used the same way in 2026.

11. Re-signing TE Drew Ogletree

While not a star pass catcher, Ogletree provides blocking value and occasional red-zone targets, making him a useful complementary piece in Shane Steichen’s offense.

10. Re-signing K Blake Grupe

The Colts re-signed the kicker to a one-year, $1.4 million deal after he made all 11 field goals and all 10 extra points in a short 2025 stint.

9. Signing DL Micheal Clemons

With three defensive ends hitting the open market, and two already signing elsewhere, the Colts brought in former New York Jets defensive end Micheal Clemons.

In his Jets career, Clemons had more penalties (10) than sacks (8.5). He also had more missed tackles (16) than tackles for loss (13).

8. Trading WR Michael Pittman Jr. to the Pittsburgh Steelers

Realistically, the team got worse with Pittman gone. The former second-round pick didn't have his best year in 2025, making him a cap casualty. It was a good move to get him off the books, but now the wide receiver room is lacking talent.

7. Signing DE Arden Key

Throughout his career, Key has shown the ability to produce pressure in rotational roles, often providing quick bursts of pass-rushing productivity. If he's consistently finished with 4-6.5 sacks, but his $20 million price tag over two years could be a bit much for a rotational player.

6. Re-signing Mo Alie-Cox

While his receiving numbers are usually modest, Alie-Cox plays a major role in the run game and pass protection. Retaining him keeps continuity in an offense that relies heavily on tight-end formations (Steichen loves 12 and 13 personnel).

5. Signing S Juanyeh Thomas

Thomas is a younger defensive back with intriguing upside, particularly in hybrid safety roles.

He has flashed as a coverage safety and special teams contributor, and the Colts may view him as a developmental player who can grow into a larger role. In seven games of action for the Cowboys in 2025, Thomas recorded three interceptions.

4. Signing DT Derrick Nnadi

A guy with Super Bowl experience, Nnadi will be a valuable run stopper for Indy next to Grover Stewart and DeForest Buckner. He's not a big name, but he's been a key starter for the Kansas City Chiefs over the past decade.

3. Trading LB Zaire Franklin to the Green Bay Packers

Franklin had a down year in 2025. He missed 21 tackles on the year, which offset his team-leading 125 total tackles.

Although he was a leader and captain, he ran his course in Indy. The Colts don't have any linebackers that can step up just yet, but there are plenty of options in the upcoming draft.

Also, the Colts received Colby Wooden in return. Wooden can be another rotational interior lineman for Lou Anarumo.

2. Re-signing Alec Pierce

Indianapolis signed Pierce to a four-year, $116 million extension, making him the centerpiece of the receiving corps. If Pierce continues developing as a route runner and expands beyond deep-threat duties, the contract could age extremely well.

Pierce is one of the best vertical threats in the league, forcing defenses to respect him. His impact goes beyond the stat sheet, and now, he's back with Daniel Jones for Year 2.

1. Re-signing Daniel Jones

For the first time in a long time, the Colts have some form of stability at quarterback. Jones led the Colts to a historic start in 2025, but an Achilles tear ended his season short.

If Jones makes a full recovery and can play the same way he did pre-injury, his two-year, $88 million deal will be well worth it.