Does Indianapolis have any issues attracting or pursuing free agents?

The Colts entered free agency with the seventh-highest cap space, so is it fair to blame inertia against the front office or could there be another underlying issue?

First time?

The ‘legal tampering’ window began Monday at noon (ET) and free agents can formally sign with NFL teams on Wednesday at 4 p.m. ET. The Indianapolis Colts used the early phase of the free agency frenzy to take care of their homegrown players. Indianapolis’ fan base remains in off-season purgatory, patiently waiting for a notable free agent to thrust the franchise an inch closer to the defending Super Bowl champion Kansas City Chiefs. The Colts have displayed interest in trading for cornerback L’Jarius Sneed, who was franchise tagged by Kansas City.

Colts general manager Chris Ballard is notorious for rewarding in-house players to long-term deals. Two weeks ago, Ballard addressed the media at the Indiana Convention Center to address free agency and the NFL salary cap. Ballad reminded reporters it takes both sides to come to a contractual agreement and mentioned that sometimes teams offer big money to free agents and the player decides to sign elsewhere. As Ballard enters his eighth season as GM, has he moved the proverbial needle to improve the state of the Colts?

The biggest move the Colts made was agreeing to terms with star receiver Michael Pittman Jr. A 3-year deal, worth $71.5 million and $46M guaranteed. In 62 career games, Pittman tallied 336 receptions for 3,662 receiving yards and scored 15 touchdowns. He reached career highs in 2023 with 109 receptions for 1,152 receiving yards. Pittman commanded 28.2% of the Colts total targets, which was the 11th-highest target percentage in the NFL.

Defensive tackle Grover Stewart agreed to a three-year, $39M deal to remain in Indianapolis. Stewart played 11 games in 2023 and totaled 41 tackles, including five tackles for loss. The 30-year-old is the Colts defensive stalwart to stopping opposing rushing attacks. This is the second long-term contract Stewart has signed since being drafted by Indianapolis in the fourth round of the 2017 NFL Draft.

Indianapolis extended its team captain Zaire Franklin to a 3-year deal, worth $31.26M. Franklin is building off the best campaign of his career after setting single-season career highs with 179 tackles, which surpassed his own single season franchise record (166) he set in 2022. In 98 career games, the former seventh-round draft pick has racked up 440 tackles, including 16 tackles for loss, 4.5 sacks and two forced fumbles. Indianapolis’ middle linebacker has missed just one game in the past two seasons and his extension won’t kick in until 2025.

The Colts resigned defensive end Tyquan Lewis to a two-year, $12M deal with $7.7M guaranteed. Lewis is a rotational edge rusher on the front line and finished the 2023 season with 25 tackles, including nine tackles for loss and four sacks. Punter Rigoberto Sanchez agreed to a 3-year extension to return to Indianapolis and provide long-term stability at a key position on special teams.

The Colts entered free agency with the seventh-highest cap space, so is it fair to blame inertia against the front office or could there be another underlying issue?