What Are the Colts Options Ahead of the NFL Draft?

The NFL offseason is in full swing, and franchises are looking to fill their roster needs ahead of next season. The Indianapolis Colts have multiple roster needs and several choices to consider. With the NFL Draft less than a month away, here is a look at their options.

Indy sits with the fourth pick and has a significant need at quarterback. After years of a revolving door at the most crucial position in the game, Colts GM Chris Ballard finally has a chance to end the suffering once and for all. However, with this QB class, the Colts’ position might not be as ideal as it seems.

What Are the Colts’ options ahead of the NFL Draft? Option 1: Stay at No. 4

The Colts “earned” the fourth pick in the NFL draft, and although it’s not ideal to end a season 4-12-1, it allows Indianapolis a chance to fill the void at QB. Unfortunately, the fourth pick has its misfortunes.

Scouts are projecting the two top quarterbacks in this draft to be Ohio State’s C.J. Stroud and Alabama’s Bryce Young, with many believing there is a drop-off between them and the rest of the class. With two QB-needy teams ahead of the Colts in the draft, the Houston Texans at No. 2 and the Carolina Panthers at No. 1, the Colts are in a challenging situation.

Who are the Colts’ realistic options at fourth overall?

Will Levis, QB, University of Kentucky

Will Levis could have been one of the top prospects in the draft last year. The Penn State transfer prospect had a strong 2021 season with 33 total touchdowns (24 passing, nine rushing) and 13 interceptions. However, Levis elected to forego entering the draft to return to Kentucky for another season.

Levis’s return didn’t go as planned. Kentucky’s offensive coordinator took an NFL job, leaving Levis to learn another offensive scheme ahead of the season. There was also a shortage of weapons surrounding him, contributing to a lack of protection. The 6-foot-3 pocket passer took a lot of hits that caused him to miss games and play most of the season injured. The beating took a toll on his play, finishing the year with only 21 touchdowns (19 passing, two rushing) and ten interceptions. Although the season didn’t go as planned, Levis’s familiarity with NFL-style play calling gives him an edge over other QBs in the class and could have him ready to start on Day 1.

The 23-year-old might be entering the league at an older age, but Levis could use that knowledge to his advantage to get a quick jump on his NFL career.

Anthony Richardson, QB, University of Florida

Anthony Richardson tested off the charts at the NFL combine and continued the hype with his pro-day performance. While the athletic QB has some flaws, many scouts believe the Florida product has the most potential of all quarterbacks in the draft.

Richardson’s biggest knock is his throwing mechanics, which tend to cause accuracy issues. Many of the 20-year-old’s turnovers were due to inaccurate passes.

The good news? Throwing mechanics can be easily addressed by NFL coaches.

Drafting Richardson at No. 4 overall could be the steal of the draft if Richardson can pull his game together.

The Carolina Panthers pulled the trigger early on a blockbuster trade to acquire the No. 1 overall pick from the Chicago Bears. The Panthers probably won’t move back in the draft after making the move. The Texans, who sit at No. 2, will most likely not trade with a division rival, especially with both teams suffering the same need on their rosters. That leaves the Arizona Cardinals, who hold the third selection, one spot ahead of Indianapolis.

Rumors have been swirling that teams are searching for avenues to trade with the Cards for the No. 3 pick to jump past Indy. The Las Vegas Raiders and another AFC South rival, the Tennessee Titans, have been rumored to be interested in trading up for Anthony Richardson. The Seattle Seahawks are another dark horse team interested in the young quarterback.

If the Colts want to fill their void, it’s hard to believe they would allow other teams to jump ahead of them and take their pick at quarterback.

Realistically, the Colts have the best trade package to offer Arizona to move up one spot. The Cards don’t need a quarterback, and moving back one place would allow them to walk away with the best defensive player in the draft or fill whatever other position they want.

Indy could offer a package headlined by the fourth overall pick, a third-rounder, and possibly a day-three pick to jump one spot to get their guy at No. 3.

Lamar Jackson has been a hot topic the last few weeks. The former MVP elected to use social media to announce his trade request from the Baltimore Ravens. Although multiple teams have openly said they won’t pursue Jackson, the Colts haven’t ruled it out.

At last week’s annual NFL meeting, Chris Ballard and new head coach Shane Steichen were asked about possibly pursuing Jackson. Both insisted they would do their due diligence on all possible options, including Jackson.

The former Heisman winner has been reportedly seeking a large contract that is fully guaranteed, but Jackson has declined that allegation on social media. The quarterback represents himself, and while Indianapolis does its homework, the days are counting down to the NFL Draft.

If Indianapolis were to sign Jackson, the Colts would forfeit two first-round picks to the Baltimore Ravens due to the non-exclusive franchise tag. If the team signed the Florida native before the draft and the Ravens elected not to match the offer, Indianapolis would send the No. 4 overall pick along with their first-round selection in 2025 to Baltimore. If the signing came after the draft, the Colts would send Baltimore their first-round picks in 2024 and 2025.

While this option is less likely than the first two, it remains an interesting choice for Colts executives ahead of draft day.

Although it seems like the Colts will select a quarterback this year, nothing is guaranteed with Ballard in control.

Indianapolis could trade out of the top five or take the best player available. While it could outrage Colts Nation, it wouldn’t be surprising if Ballard foregoes this draft to wait for next year’s headlined by USC’s Caleb Williams and UNC’s Drake Maye.

If Ballard is bold enough to make that move, it’s almost guaranteed the Colts are playing for another top-five pick in next year’s draft. Indy could even trade the fourth overall pick for a late first-rounder and then sign Lamar Jackson. The move would lead to more draft capital, send a less valuable selection to the Ravens, and aligns with how Ballard operates.

All-in-all, this is the least likely option.

While Indianapolis’ options seem endless, the team must make the correct decision if they plan to contend in the coming years. Time will tell, but for now, all eyes are on the Indianapolis Colts.