The 2025 free agency period will be an interesting time for the Indianapolis Colts. For the fourth straight year, the Colts missed the playoffs, forcing them to enter the 2025 NFL offseason without a sense of direction.
Head coach Shane Steichen is an even 17-17 ahead of his third season with the team. Steichen and quarterback Anthony Richardson enter the most critical offseason of their parallel careers. Neither can feel much security in their current jobs and are likely on the cusp of potential firing if significant improvements are not in store.
After being benched for four games in 2024, Richardson is likely preparing for his final shot to prove himself as the Colts’ franchise quarterback. General manager Chris Ballard was critical of his 2024 campaign and vowed to add a veteran signal-caller in the offseason. Ballard’s statement clearly indicated that he wants someone to compete with Richardson, not just serve as his backup.
The Colts enter the offseason with roughly $34 million in cap space, placing them in the middle of the league, according to Over The Cap. While not as much space as a rebuilding team would like, it is still enough to improve the roster. Indianapolis continues to finish just a handful of plays away from Steichen’s first playoff berth as a head coach.
They may not make the biggest splash in free agency, but the Colts are a team to watch in the 2025 NFL offseason.
QB Marcus Mariota
If there was one point Ballard made clear at his end-of-year presser, he would not enter training camp without a veteran quarterback on the roster. Marcus Mariota should not be the type of player anyone sees as a legitimate threat to someone like Richardson, but he could be the perfect complement to a struggling dual-threat passer.
Mariota, a former top-five pick, is officially a league veteran, wrapping up his 10th season in 2024. In it, he watched rookie Jayden Daniels post a historically successful inaugural campaign from the sidelines. Mariota was effective on the field when called upon but was otherwise the perfect veteran backup to Daniels, who repeatedly spoke highly of the Hawaiian’s impact on him as a mentor.
With just 15 games under his belt, Richardson has struggled with a lack of mentorship in his career. He is preparing for his third year in the league but is still just 22 years old, making him younger than some of the prospects preparing for the 2025 NFL Draft. No one denies Joe Flacco as a seasoned veteran of the league, but he shares no similar qualities to an athletic, mobile quarterback like Richardson. Mariota, on the other hand, does.
If Ballard truly wants to push Richardson, Mariota is likely not his guy. The 31-year-old started 13 games for the Atlanta Falcons in 2022, but losing a positional battle to this version of Mariota would shred all confidence in Richardson. Yet, there is hardly a better backup to share a locker room with Richardson. Adding Mariota in the 2025 NFL offseason could be a sneaky-good key to the Colts getting the player they believe they drafted in 2023.
CB Mike Hilton
Arguably the most significant change the Colts will endure over the offseason will come on the sidelines when Lou Anarumo takes over as defensive coordinator for Gus Bradley. Despite multiple down years with the Cincinnati Bengals that led to the end of his tenure, Anarumo is expected to elevate the Colts’ struggling defense in 2025.
The Colts struggled to defend all around in 2024 but were particularly deficient against the pass. Without a true lockdown cornerback, Indianapolis allowed the sixth-most yards per pass and second-highest completion percentage. They also allowed 229.4 passing yards per game, the seventh-most in the league. Anarumo’s addition will help, but the team also needs secondary reinforcements.
Ballard could definitely take a big swing in free agency, but Anarumo might have his eyes on Mike Hilton, who played for him in Cincinnati from 2019 to 2024. Hilton lacks the size to be a true CB1 but is coming off his best professional season, in which he posted a career-high 75.9 player grade on Pro Football Focus.
Indianapolis will retain most of its cornerbacks in 2025, including veteran Kenny Moore II, who shares the same nickelback role that Hilton thrives in. Moore’s presence could prevent the Colts from pursuing Hilton, but his $22 million cap hit over the next two seasons could quickly become a liability. Despite being the leader of the secondary, Moore could be shockingly released in the 2025 NFL offseason, particularly with his questionable fit in Anarumo’s defense.
At 30, Hilton is closer to the end of his career than the beginning, but he is still evidently one of the most underrated nickels in the league. Most of Anarumo’s most successful packages required Hilton’s physicality. It would not be surprising to see the renowned coordinator persuade Ballard to pursue his guy.
G Will Hernandez
Indianapolis has managed to maintain one of the top offensive lines for several years but could see that fall apart in 2025 if they are not careful. Star guard Quenton Nelson is signed through the 2026 season, but the Colts will have Ryan Kelly, Wesley French and Will Fries hit unrestricted free agency.
In addition to the potential losses, the Colts could release tackle Braden Smith, who tops their list of cut candidates. Smith left the team for unspecified personal reasons at the end of 2024, leaving his future with the team up in the air. Smith’s $70 million contract has one year remaining on it, giving him a near $20 million cap hit in 2025.
As one of their first orders of business, Ballard and the Colts need to do everything they can to re-sign Kelly. However, the potential loss of French and Fries will be much more significant than just the disappearance of the NFL’s best name gimmick. Team mainstay Mark Glowinski also hits free agency in March, leaving a gaping hole at guard. With the plethora of players available at the position, few have better value than Will Hernandez.
Hernandez hits free agency after three seasons with the Arizona Cardinals. Seven combined years with the New York Giants and Cardinals have hidden him from the spotlight, but his numbers are on par with the best in the league. Hernandez signed a mere $9 million deal in 2023, making his asking price lower than many of his peers.
If nothing else, 2025 must be a complete evaluation of Richardson at quarterback. The Colts cannot do that without a rock-solid corps around him, beginning with the offensive line.
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