After days of Twitter-fueled speculation, Phil Richards of the Indianapolis Star reported the trade to be for a second-round pick in the 2013 draft, but later added that the Colts will send the Dolphins a conditional sixth-rounder as well. The move was later confirmed via a press release by the Colts.
Davis is a talented corner, but had fallen out of favor with the Miami coaches because of his conditioning when he came to camp and his general work ethic.
The Colts get a major upgrade at an important position of need. Their secondary has been a mess for multiple seasons now, and Davis is a young player with tremendous ability. He'll replace a revolving-door of substandard corners.
There's no debate that Davis is vastly superior to any other player the Colts could line up opposite Jerraud Powers at corner. The only question is whether they got a fair return for what stands to be a high second-round pick.
Davis has two years left on his deal, and the Colts are giving up a second-round pick for the rights to them. They obviously feel like the team can be in contention immediately, or the deal makes no sense.
If Davis' play is enough to lift the Colts in the standings, the trade makes sense. Otherwise, they'll have given a high pick to help the secondary for 2013, after which time Davis will be able to walk.
There are reasons why Davis was available in the first place. Omar Kelly of the South Florida Sun-Sentinel gave insight as to why the Dolphins would be willing to part with a talented player.
If the Indianapolis staff can't find ways to integrate him into the defense immediately, the Colts will have given up too much for one competitive year with Davis, only to see him become eligible for free agency. Meanwhile, they have to hope that the coaches in Indianapolis do a better job of reaching Davis than the staff in Miami did.
Davis makes the Colts better right now, but not three wins better. Unless he's fantastic in 2013, there's little chance the Colts wind up on the better end of this trade.
Davis is the right player at the right position, it's only a question of whether Indianapolis paid the right price.