The 2025 season was a tale of two very different halves for the Indianapolis Colts. After winning a quarterback competition over Anthony Richardson, Daniel Jones went on to lead the NFL's top offense. He dropped the bust label in the process and proved he could be Indianapolis' long-term signal-caller. Unfortunately, the Colts' season went to crap when Jones tore his achilles tendon, and now he is in an interesting place heading into free agency.
Had it not been for the injury, Jones could have been the top free agent on the open market. Even with the knowledge that he may miss some or all of next season, the Duke product is still viewed as the top free agent quarterback. However, he doesn't make sense in a lot of different spots. Many teams either already have a franchise quarterback or will look to get theirs through the draft. That means that the Colts are still the best fit for Jones.
It is unclear how much he will demand on the open market. A big payday would have certainly come his way had it not been for the injury. A prove-it deal may be on the table, but it is possible that the Colts just commit to Jones and give him a long-term deal.
Quarterbacks are expensive in the NFL, and paying Jones, along with any other free agents the team is interested in, may require some salary cap maneuvering. As of now, the Colts have $32 million in cap space this offseason according to Spotrac, but if a large chunk of that goes to Jones and draft picks, the team may need to release some players to create cap space.
So, who is on the chopping block as a cut candidate?
Releasing a receiver could lead to Alec Pierce's return
Jones isn't the only free agent the Colts will want back for next season. They'd also love to bring back Alec Pierce, the team's physically imposing deep threat who rounds out a balanced receiving corps. Pierce has led the NFL in yards per reception two seasons in a row now. He takes the top off opposing defenses and really opens up the Colts' offense. Jonathan Taylor is one of the best running backs in the NFL, but the threat of Pierce breaking off a big-yardage play creates more freedom for the ball carrier.
Ashton Dulin is someone the team could move on from to create more salary cap space that could be used to bring Pierce back. While he is a contributor on special teams, Dulin only had five receptions all of last season in his role as a receiver. He has also struggled with injury issues. The lack of availability and production make him expendable. Dulin is set to count for $3.57 million against the cap, but he'd only have a dead hit of $670,000 if he were released.
The Colts need to move on from a linebacker
Zaire Franklin is another cut candidate on the Colts roster. His dead hit is just $2.5 million, despite the fact that he would count for $8.2 million against the cap. Releasing Franklin would shock many fans, as the linebacker does rack up the tackles. His 125 combined tackles were the most on the Colts last year, and he earned a Pro Bowl nod as recently as 2024.
Franklin showed serious signs of regression last season, though. His tackling number was actually far down from the 173 he secured the year prior. Franklin graded poorly according to PFF, too, as the site gave him a 38.4 grade, which was the second-worst mark among qualified linebackers.
Heading into his age-30 season, things may only continue getting worse for Franklin. With two years left on his deal, Indianapolis may be smart to cut bait now, especially because doing so would open up even more money ahead of what will likely be a busy and expensive offseason for the Colts.
