With the Colts freeing up 2025 cap space via restructuring nickel Cornerback Kenny Moore II’s contract and standing at a 5-1 record, they seem poised to make a move before the NFL trade deadline. Who could
the Colts pursue as Ballard tries to add to a roster that looks poised to enter the playoffs for the first time since 2020?
Trey Hendrickson, DE, Cincinnati Bengals
Yes, yes I know dear reader. We’ve been down this road before. You don’t want to get your hopes up.
And yet, the siren’s call beacons. Trey Hendrickson is still on an expiring contract. The Bengals season has been derailed by Joe Burrow’s Week 2 injury, losing 4 straight games since as their offense lurches to a halt without their franchise passer. The upcoming schedule offers little respite, as the Bengals face the 4-1 Steelers, the 0-6 Jets, and the 3-2 Bears. Outside of the Jets and perhaps the Bears, it’s hard to see the Bengals without Burrow adding much to the win column before the trade deadline passes them by. The schedule gets even tougher after the deadline, which makes this potential trade seem likelier if the Bengals don’t right the ship quickly.
Coincidentally (or perhaps not), the Colts restructure of Kenny Moore II’s contract puts them only 200k short of enough cap space to take on Trey Hendrickson’s prorated contract at the trade deadline. The Colts could negotiate for the Bengals to absorb more of Hendrickson’s contact in exchange for better draft pick returns, or could free up money by sending someone to the Bengals or restructuring 1 more contract, thereby easily having avenues to afford the star pass rusher.
The Bengals must decide by the trade deadline whether they take this last opportunity to send Hendrickson away for a return, or risk him hitting free agency next offseason and have to play the compensatory pick formula game to hope to get a 2027 Draft pick (a late 3rd or late 4th at best) out of Hendrickson.
Pete Werner, LB, New Orleans Saints
The Saints are a team that has been stuck in neutral for a long time, and might look to finally start to rebuild soon after years of pushing their dead cap around with restructures and void years. They need to get younger and cheaper in order to do so. There could be a significant fire sale of assets coming, and the Colts could capitalize to bring a born and raised Hoosier back home.
Werner, a Cathedral High School graduate, has been a solid linebacker for the Saints. He has displayed speed, strength at shedding blocks, a reliable tackling form, and shown flashes in coverage as a MIKE/WILL Linebacker. He isn’t a star by any means at linebacker, but he has the high end athleticism that Ballard loves and the versatility that Anarumo wants while giving a bit more coverage ability than the rest of the current LB corps.
He just signed an extension with the Saints but is due a small $2.9m cap hit in 2025. His extension gets more expensive in 2026-2027 where he averages around $8m in cap hit each year before his void years of $2.3m and $616k 2028-2029. Overall it is an affordable deal that the Colts can pounce on, while the Saints get some cap relief for their 2026 potential overhaul and get some draft pick capital to save further money elsewhere.
Tariq Woolen, CB, Seattle Seahawks
If the Colts want to swing for the fences for a young impact corner on the trade block, there might not be a better option than Seahawks Tariq Woolen. Woolen had a sensational start to his career with his first three seasons racking up an astounding statline in coverage from 2022-2024.
The previous production and athletic gifts certainly make Woolen an attractive target for Cornerback needy teams. However the Seahawks are already trying to shop him before the deadline, as he is unhappy with the team and wants an extension before the final year of his contract is up. Woolen has regressed in 2025 and was benched after violating an undisclosed “team rule” in Week 4. He is allowing a career high catch rate (72.2%, +10.1% from previous high), missed tackle rate% (23.8%, +3.8% higher than previous high), and passer rating (123.1%, a 39.4 rating jump from previous high). His recent run of poor form could lower Woolen’s trade stock, and considering the team who trades for him will only have half a season of him under contract affordably at most before deciding on his extension further hinders his trade value.
The 26 year old Corner out of UTSA should have quite a few suitors if other teams are willing to buy into his previous 3 years of tape. The former 5th round pick has vastly outperformed his draft slot and is poised to cash in soon. Woolen would also potentially like to be in Indianapolis as he would retain his outside CB2 job that he has had in Seattle with Devon Witherspoon often taking on more difficult assignments and forcing more looks Woolen’s way, as the Colts with Charvarius Ward also have a strong CB1 to keep Woolen thriving on opposing teams second best outside threats. The pairing of Woolen if he reverts back to form with Ward and nickel Kenny Moore II should be very appealing to Lou Anarumo, who has struggled to find consistent play at that spot so far in 2025.
Jaelan Phillips, DE, Miami Dolphins
Jaelan Phillips was once upon a time in debates with Kwity Paye as the top Edge rusher of the 2021 Draft. Phillips was seen as having more polished pass rushing profile but lacked the hard edge setting in the run game as a finesse rusher and had enough injury concerns that caused him to medically retire midway through his college career, while Paye brought more power and athletic upside but rawness in his pass rush move set. Both had their risks, but were the highest drafted edge rushers of the class with Phillips taken 18th overall and Paye taken 21st.
So far that pre-draft assessment of both of them has proven to be true, with Phillips showing tantalizing upside as a pass rusher but unfortunately suffering multiple major injuries in his pro career limiting his availability. He has suffered a lower back lumbar sprain, an abdominal muscle strain, an Achilles tear in MetLife Stadium, and an ACL tear from a teammate hitting him accidentally. The last two were season ending injuries that cost him 19 games in the last 2 seasons.
Phillips when on the field has been an effective pass rusher, getting as much as 77 pressures in his last fully healthy season in 2022. So far in 2025 he is tied with Colts Edge Rusher Laiatu Latu in pressures with 16 and ranks 22nd in Pass Rush Win Rate (17.7%) and 25th in Pass Rush Grade (75.2). Even after all of his injuries he still shows impressive burst and flexibility.
The Miami Dolphins could be on the brink of a tear down with Head Coach Mike McDaniel on the hot seat after a 1-4 start and 0 playoff victories in his tenure (made the playoffs twice as a wildcard in 2022-2023, but lost in the Wildcard round both times), Tua Tagovailoa has shown clear limitations as well as concerns with his health longterm after multiple major concussions, and General Manager Chris Grier might not survive his 10th season in charge of the Dolphins while still chasing his first playoff victory in his tenure. The Dolphins have other edge rusher options on the roster beyond Phillips with less injury concerns, but might try to maximize what value they can get out of Phillips with his checkered medical history. Perhaps the Colts could get Phillips to play with Paye for their 5th year option years before the Colts decide in 2026 which one they want to keep.
Kayvon Thibodeaux, DE, New York Giants
Another young pass rusher could be looking for a new team, and the 24 year old Thibodeaux has shown plenty of promise so far in his career. He sets a hard edge in the run game, has had stronger pass rushing production in years past and has a good win rate in 2025. The Colts could see him as an upgrade over Kwity Paye in his current role with the team, while still seeing upside in Thibodeaux continuing to grow as a pass rusher.
However with Brian Burns in town and star rookie Abdul Carter also eating a large portion of the snaps, Thibodeaux might be the odd man out in New York’s rotation long term. He is even with the other two in snap counts, but he is well behind them in most pass rushing metrics. Burns is locked in on a big money deal that is signed through the 2028 season and Carter was just drafted in April early, both with their futures clearly secured in New York. Thibodeaux only has one year left of his deal after the 2025 season on his 5th year option before due for an extension.
The Giants are at 2-4 and are trying to rebuild out from the bottom of a tough division in the NFC East, but have little cap space in 2026 to improve their roster, let alone retain key players like Offensive Lineman Evan Neal and Wide Receiver Wan’Dale Robinson as well as several defensive starters. Trading away Thibodeaux whose role could be shrinking and will be due for an even bigger contract could be beneficial to the Giants in the long run by allowing them to retain more talent and get more draft capital to continue to build out their roster. Still the Giants might opt to keep him and see if they can maintain this 3 man Edge rotation for a bit longer.
Tyrel Dodson/Willie Gay Jr., LB, Miami Dolphins
Jaelan Phillips might not be the only Dolphin swept away in the potential Miami firesale post-Chris Grier. The Colts sorely need to address linebacker and the Dolphins have a pair of veterans that might interest the Colts offball. Dodson was one of the best offball coverage linebackers in the NFL in 2023-2024, recording 3 INTs and 4 Pass Breakups in that span and playing sticky man and reactive zone coverage. However he has regressed in 2025 in pass coverage, but has still shown good run stuffing ability.
Willie Gay was a crucial part of the Chiefs vaunted defenses in years past, providing reliable tackling, impressive range, and good coverage instincts. Injuries have cost him valuable playing time since 2021, and seemed to limit him in the last two seasons. He is now a backup Linebacker but starting to flash some of his prior effectiveness albeit in a small sample size this season.
Neither should command too large of a price and the Colts could trade Day 3 capital for a potential needed upgrade at Linebacker.
Jamal Adams, LB, Las Vegas Raiders
Adams’ pro journey has taken quite a few turns since his 3 straight All Pro seasons in 2018-2020. The former Box Safety has not been able to replicate his early career success in recent years due to either missed tackles, missed games due to injury, poor scheme fits, and coverage lapses. However he is now having a small bounceback season with the Raiders as a linebacker, facing less deep dropbacks and allowed to be more aggressive and closer to the line. Adams is a rotational player for the Raiders on certain subpackages, and has rewarded the Raiders with several timely pressures and good coverage in the middle of the field. He still needs to be more consistent as a tackler, but could the Colts take a chance on the former star?
The Raiders are at 2-4 with 3 of their losses by 11 to 34 points and are in a gauntlet of a division with the Chargers, Broncos, and Chiefs all battling it out. They still have 5 games against divisional opponents (including the Chiefs up next Sunday in Arrowhead Stadium) as well as matchups against Eagles, Jaguars, Cowboys, and Texans. Perhaps trading away Jamal Adams on a cheap 1 year deal midseason for a Day 3 draft pick could help them continue to try to build a young core around Brock Bowers and Ashton Jeanty.
