NFL Analyst “Selling Colts Shares” Amid Mounting Concerns

The Indianapolis Colts entered the 2026 offseason with a clear goal: revamp the roster to compete for an AFC South title. After a couple of months, it seems that the Colts are still stuck in the same spot they were in when the season ended.

At the center of the concern is the Colts’ commitment to quarterback Daniel Jones. The team doubled down on Jones this offseason with a two-year, $88 million deal, despite the veteran coming off a torn Achilles tendon. While Jones helped lead Indy to a historic offensive start, much of the team's success was tied to a dominant rushing attack led by Jonathan Taylor.

Sports Illustrated writer Conor Orr expressed his concerns regarding the Colts in his new power rankings. Orr has the Colts ranked 22nd in the league after two weeks of free agency.

"I am selling my Colts shares, as I have mentioned multiple times this offseason," Orr wrote. "Spending big to return players from a team with few quality wins last year and doubling down on Daniel Jones is worrisome at best—not because Jones is bad, but because Jones was buoyed by a phenomenal running game that will be difficult to replicate again this season, in addition to the fact that he’s coming off some real injuries."

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Jan 4, 2026; Houston, Texas, USA; Indianapolis Colts head coach Shane Steichen walks the sidelines in the first quarter as the Colts played against the Houston Texans at NRG Stadium. | Thomas Shea-Imagn Images

Entering the offseason, the Colts only had about $30 million in cap space to work with, but they moved money around to create some leeway. Indy dropped a bag on Daniel Jones and Alec Pierce, but combined, their cap hits are just over $23 million for 2026.

The Colts intentionally pushed their cap hits back so that they could be aggressive in free agency, but after two weeks, they have yet to sign an impact player from the open market. The Colts were in the lead to sign Trey Hendrickson, but the Baltimore Ravens sent Hendrickson an offer that Indy couldn't match.

Now, when you peek at Indy's roster, it's not pretty. The offense is practically the same, except Michael Pittman Jr. has been replaced by Nick Westbrook-Ikhine, and Braden Smith has been replaced by Jalen Travis.

Defensively, the Colts look worse. The secondary is elite with Sauce Gardner and Mooney Ward leading the way, but the front seven is probably among the worst groups in the league. The pass rush, which was already inconsistent, hasn’t seen the kind of meaningful upgrade many expected. Instead of adding a clear-cut difference-maker off the edge, the Colts opted for lower-cost, rotational additions like Arden Key and Micheal Clemons.

Indy hasn't had a player reach double-digit sacks in a season since Justin Houstin in 2019. Realistically, there's only one player on the roster who has a shot at changing that: third-year defensive end Laiatu Latu.

Nov 23, 2025; Kansas City, Missouri, USA; Indianapolis Colts defensive end Laiatu Latu (97) celebrates after an interception against the Kansas City Chiefs in the first quarter at GEHA Field at Arrowhead Stadium. | Jay Biggerstaff-Imagn Images

It seems that the Colts are banking on Latu taking that next step. When general manager Chris Ballard drafted him, he boldly claimed that they got the best pass rusher in the draft with the 15th overall pick. Through two years of action, those words haven't panned out as expected.

At linebacker, the Colts are extremely thin after trading Zaire Franklin and letting Segun Olubi walk. Indy brought in Akeem Davis-Gaither, a player who formerly worked under Lou Anarumo, but they could still benefit from adding another guy in the heart of the defense. With the 2026 NFL draft just around the corner, it wouldn't be shocking if the Colts used their first selection on a linebacker or edge rusher.

Looking at the roster, it's no surprise Orr is "selling Colts shares". On paper, Indy hasn't improved much. In fact, you could argue they've gotten worse.

The Colts will be extremely dependent on the success of the run game. Should that fail, Indy will be in for a long ride in 2026.

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