Report: Colts Not Expected to Give Extensions Before Free Agency

For anyone expecting any major Indianapolis Colts news between now and next week, you may not want to hold your breath.
According to Zak Keefer of The Athletic, the Colts are not expected to sign any of their own free agents to extensions before the open negotiating period — AKA "legal tampering" period — begins on Monday, March 15.
Although the team would like to bring back some of their own players, they will let their prospective free agents test the market.
From what I know: Colts aren't expected to sign any of their own in-house free agents to extensions before the open negotiating period begins Monday. They'll let all of them test the market, including T.Y. Hilton. But the focus won't change: they want to bring some back.
— Zak Keefer (@zkeefer) March 10, 2021
The Colts will have budgets set for each position group and free agent player. If the market for any given player becomes too rich for the Colts then they may advise the player that they cannot match and to take the money and run. Otherwise, negotiations with the player will likely continue.
Here are the Colts' in-house free agents according to Spotrac:
Unrestricted
These players may sign with whichever team they choose.
DL Denico Autry, QB Jacoby Brissett, TE Trey Burton, CB T.J. Carrie, OL Le'Raven Clark, OT Chaz Green, WR T.Y. Hilton, S Malik Hooker, DE Justin Houston, C Joey Hunt, RB Marlon Mack, DE Al-Quadin Muhammad, CB Xavier Rhodes, LB Anthony Walker, S Tavon Wilson
Restricted
These players may agree to terms with any team and sign an offer sheet, but the Colts have the right to match other teams' offers within seven days. If the Colts do not match, they may receive draft pick compensation from the other team pre-determined by the value they placed on the player at the beginning of free agency.
TE Mo Alie-Cox, S George Odum, WR Zach Pascal, CB Tremon Smith

Jake Arthur is the co-deputy editor of Indianapolis Colts on SI and has covered the NFL and the Indianapolis Colts for a decade. He is a member of the Professional Football Writers of America (PFWA), and his works have been featured on SBNation, MSN, Yahoo, and Bleacher Report. He has also contributed to multiple NFL Draft guides and co-hosts the Locked On Colts podcast.
Follow @JakeArthurNFL