Colts’ Offseason Moves Scrutinized in Latest NFL Rankings

The Indianapolis Colts are facing growing skepticism just two weeks into free agency, largely driven by their failure to add proven impact talent and their decision to invest heavily in two players who have combined for just one playoff victory.

Those two players, of course, are quarterback Daniel Jones and wide receiver Alec Pierce. Indy's new duo broke offensive records in the first weeks of the 2025 season, but the second half told a different story.

The Colts went on a seven-game losing streak after Jones suffered his first injury, a fractured fibula. Indy is banking on a full recovery from him and the next step in development from Pierce, but critics aren't sold that Indy has made the right decision.

Pro Football Focus analyst Mason Cameron dropped his post-free agency power rankings, and he has the Colts ranked 21st.

"Retaining high-priced free agents Alec Pierce and Daniel Jones cost the Colts more than $202 million in total contract value, largely restricting their ability to add to the roster and prevent an exodus of free agents. The moves also led to the subsequent trades of Michael Pittman Jr. and Zaire Franklin," Cameron wrote.

"While Pierce and Jones were crucial pieces to the early Colts' success on offense in 2025, dedicating that level of cap resources was a boom-or-bust decision. Their roster improvement in 2026 hinges on in-house depth options and mid- to late-round draft picks."

Why They're Sleeping on Indy

Daniel Jones and Shane Steiche — Oct 19, 2025; Inglewood, California, USA; Indianapolis Colts quarterback Daniel Jones (17) talks with head coach Shane Steichen during a stoppage in play in the first half against the Los Angeles Chargers at SoFi Stadium. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images | Jayne Kamin-Oncea-Imagn Images

It's not surprising to see an analyst doubting Indy. After all, what has been shown in the Chris Ballard era to make outsiders believe that the Colts will change in 2026?

The Colts finished the 2025 season with an 8–9 record, placing third in the AFC South and missing the playoffs for a fifth consecutive year. That's tied for the third-longest active playoff drought in the league.

After ending on a seven straight losses, Colts owner Carlie Irsay-Gordon made the difficult choice to retain Ballard and head coach Shane Steichen for another year. Irsay-Gordon claimed the sense of urgency has never been higher, but Indy has hardly made any moves this offseason to back up those words.

Free-agent additions such as Arden Key, Micheal Clemons, and other depth pieces have not been viewed as significant upgrades, further fueling doubts about the team’s overall trajectory. Although the team was in the race for Trey Hendrickson, they weren't willing to match the Baltimore Ravens' price.

Complicating matters is the lack of premium draft capital. Without a first-round pick, the Colts have limited opportunities to add immediate impact talent, increasing pressure on Ballard to find value in later rounds.

As Cameron mentioned, the Colts' improvement will hinge on draft picks and players already on the roster. When you look at who's left in free agency, there aren't a ton of guys who jump off the page as immediate impact players, especially on defense.

Colts Have Talent, But is it Enough?

On paper, there are several bright spots for the Colts. The secondary, specifically the cornerback room, is one of the best in the league. If Sauce Gardner and Mooney Ward can stay healthy, Indy could cause problems for opposing receivers.

The defensive front seven, however, is another story. The Colts have the interior resolved with DeForest Buckner and Grover Stewart, and they've made a plethora of depth signings. Linebacker and edge rusher could use some help, which the Colts may try to address in the NFL draft next month.

This year's draft will define Ballard's career. If he misses, his time in Indy will likely come to an end.

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