Colts 2024 free agency tracker: Offseason moves, signings
Here’s a breakdown of every 2024 NFL free agent signing by the Indianapolis Colts and how each will impact the upcoming season:
Franklin signed a three-year, $31.26 million extension on Monday.
What it means: This was a natural next step for the Colts to take as Franklin’s progression from special teams player to team cornerstone feels complete. Franklin is second in combined tackles in the NFL since the start of the 2022 season, and he has become the emotional leader of the Indianapolis defense. The extension is the Colts recognizing that Franklin’s previous contract, signed in spring 2022, was below market for his contributions as it was signed before his breakout season later that year. The Colts feel confident their off-the-ball linebacking pair of Franklin and E.J. Speed sets them up for success.
What’s the risk: Franklin has been very durable in his career, but there’s always the chance of injuries becoming a factor at a physical position like middle linebacker. That’s especially true for a player with a physical style like Franklin, who is not one to avoid contact. Injuries to All-Pro linebacker Shaquille Leonard resulted in the Colts coming out on the short end after signing him to a $99 million contract in 2021. But this deal is for significantly less money and likely contains moderate amounts of guarantees, making it much more manageable.