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The most pressing and immediate issue the Colts must address in 2014 is replacing Antoine Bethea at strong safety.
Going after a more traditional strong safety seems likely at this point, but Stephen Holder of the Indianapolis Star tweeted that Grigson has noted the importance of finding a safety who has some coverage skills as well. Delano Howell is currently slotted to be the starter at the position, although free-agent signing Colt Anderson could compete for the job as well.
Center has been a need for the last two years, as the team has never been able to adequately replace Jeff Saturday.
Samson Satele never worked out, and the team unceremoniously cut him earlier this offseason. After cutting Satele, it was clear that help would need to be brought in from outside the organization, as Khaled Holmes (and his 13 career snaps) was the only option at the position on the roster. So, the Colts brought in Phil Costa, who promptly retired.
The Colts clearly need somebody to push Holmes, and the only question is whether that somebody warrants a high pick or not.
This is not as much of an immediate need, but this is a position that could be bare in Indianapolis as soon as next season, even after the signing of Hakeem Nicks this offseason. Only T.Y. Hilton and LaVon Brazill are signed through 2015, and the Colts' lack of proven options after Reggie Wayne can bog down the offense at times.
A potential starting receiver in the draft would give the Colts insurance if Wayne's recovery from an ACL tear goes south, and it would also give them more flexibility with Nicks in the future.
Much like the receiver position, there is a lack of depth at cornerback. Vontae Davis is a very good starting corner, but Greg Toler is both perennially injured and inconsistent. If wide receiver talent is important for any team's offense to succeed, talent at cornerback is just as important for stopping said receivers.
The most important position on defense also happens to be one in which the Colts are drastically low on talent.
Robert Mathis is phenomenal, but he was forced to carry the entire team last season. Like Wayne, Mathis is aging, and there's no possible way to determine when he'll stop being effective. If the Colts have a top edge rusher fall to them in Round 2, they should select him and have him learn behind Mathis for a year before becoming a high-end contributor.
Stopping the run is important, but the Colts have just one player who plays in the middle pf the defense and excels at taking on double-teams. Josh Chapman is certainly an interesting player, but the team could use more competition at this spot.