Pagano, 54, is entering the final season of a four-year contract. The Colts have finished 11-5 in each of his three seasons as head coach. Indianapolis reached the AFC title game last season, eventually losing to the Patriots.
He missed 12 games after being diagnosed with leukemia during the 2012 season.
Earlier this week, Colts owner Jim Irsay said the team doesn’t plan on giving quarterback Andrew Luck a contract extension until after next season. Luck, 25, is under contract for $3.4 million in 2015 with a team option for the 2016 season. He has led the Colts to the playoffs in each of his three seasons as the team's starter.
- Paul Palladino