Colts Projected to Gain Two Picks in 2026 NFL Draft

The Indianapolis Colts are projected extra picks in the 2026 NFL draft.

Dec 28, 2025; Indianapolis, Indiana, USA; Indianapolis Colts head coach Shane Steichen during the second half | Robert Goddin-Imagn Images

The Indianapolis Colts, like every other team, are preparing for the 2026 NFL draft set to take place at the end of April. With the combine around the corner, the Colts will get a closer look at every prospect as they prepare to showcase their talents in front of NFL coaches and scouts.

The Colts will be working without a first-round pick after they traded it away to the New York Jets in a package for star cornerback Sauce Gardner, and they'll also be without their sixth-round pick, which they traded to the Minnesota Vikings in exchange for Mekhi Blackmon.

The Colts are currently slated to have five selections in this year's draft, but they could gain a couple more. Over The Cap projects the Colts to have two compensatory picks after losing more compensatory free agents (CFAs) than they gained last offseason.

Indianapolis Colts General Manager Chris Ballard speaks with media Thursday, Jan. 8, 2026, at the Colts practice facility in Indianapolis. | Mykal McEldowney/IndyStar / USA TODAY NETWORK via Imagn Images

Colts Projected Two Compensatory Picks

Not every free agent is a compensatory free agent. There's an equation that takes into account playing time, accolades, and salary, but if it's a decent player, there's a good chance they are worth a compensatory draft pick.

All compensatory draft picks are handed out in rounds 3-7. Teams can receive a maximum of four compensatory picks per year. Only UFA players who signed before a specific deadline and were not released by their previous team qualify for the formula.

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The losses of quarterback Joe Flacco and linebacker E.J. Speed are projected to earn the Colts a sixth-round and seventh-round pick. Although they are two late-round selections, the Colts could get lucky and land a star or use them as draft capital to obtain more established players.

Indianapolis Colts quarterback Joe Flacco (15) yells from the line of scrimmage Sunday, Jan. 5, 2025, during a game against the Jacksonville Jaguars at Lucas Oil Stadium in Indianapolis. | Grace Hollars/IndyStar / USA TODAY NETWORK via Imagn Images

The Colts are the only team in the AFC South that will gain compensatory picks. Considering they only had five selections, these two picks will be a huge help for general manager Chris Ballard during the Colts' draft process.

Tom Brady, Antonio Brown, and Justin Tucker are just a few perennial All-Pros taken in the sixth or seventh round. Of course, the odds of the Colts landing a guy that talented are low, but it's non-zero.

The Colts will be looking for bargain bin players who can develop into average starters or special teams guys. Colts linebacker Zaire Franklin was a seventh-round pick himself and went on to earn AP Second-Team All-Pro honors a few years later.

In last year's draft, the Colts found Notre Dame quarterback Riley Leonard in the sixth round. Although Leonard only appeared a handful of times, he looked like he could be the backup of the future in Indianapolis.

As things stand, the Colts appear poised to reap two extra draft assets in 2026. These are only projections, but two picks could be beneficial to the Colts' draft strategy.