NFL free agency is almost set to begin, and we're keeping track of every major signing, trade and release of the 2025 offseason, with analysis from our NFL Nation reporters and grades from our experts. The new league year begins March 12 at 4 p.m. ET, and free agent signings can then become official. The first round of the 2025 NFL draft begins April 24 on ESPN.
Here's a breakdown of every 2025 NFL free agent signing by the Indianapolis Colts and how each will impact the upcoming season:
Charvarius Ward, CB
The three-year deal will be worth $60 million.
What it means: The Colts are effectively admitting to the issues in their secondary by further bolstering the unit with the addition of Ward. It's the biggest commitment the team has made at cornerback under GM Chris Ballard, who is notorious for relying on the draft and low-level free agent signings to fill the team's defensive back room. This move is a nod to new defensive coordinator Lou Anarumo, who was hired in January and was expected to have a significant influence over the team's defensive roster moves.
What's the risk: The Colts are giving Ward a $20 million signing bonus, something that is very out of character for a team that often provides guaranteed money in the form of roster bonuses and base-salary guarantees. Here, the Colts are doing a bigger-than-normal cash payout, which means there is more risk if the move doesn't work out. Ward also saw a big drop in his production last season after his All-Pro season in 2023.
Camryn Bynum, S
What it means: The Colts were bound to address the safety unit this offseason in a substantive manner given the need there. Veteran free safety Julian Blackmon has struggled with injuries and becomes a free agent this week. Meanwhile, the Colts allowed a 69.4% completion rate, third-worst in the NFL, last season. Bynum's addition gives the Colts some stability on the back end of their defense. His durability is one of his best traits, with the former fourth-round pick having not missed any games in the past three seasons. Bynum had a career-high three interceptions and 10 passes defensed last season.
What's the risk: The Colts are spending a reported $15 million per year on a position they've rarely dedicated meaningful resources toward. They could have opted to address this position through the draft, but committing significant financial resources to this spot will have a trickle-down effect elsewhere, whether it comes to re-signing their own key free agents or acquiring upgrades from other clubs. Still to be dealt with is the Colts' expected quarterback signing, after GM Chris Ballard promised to add a QB to compete with Anthony Richardson.