The Colts made an interesting move today, claiming linebacker Cody Glenn off waivers from the Redskins and releasing veteran safety Matt Giordano. Giordano has been a quality reserve for the last four seasons, and was well known for being one of the fastest players on the team, so the Colts would need good reason to let him go.
This could be good news regarding the injury status of starting safety Bob Sanders, who was recently taken off the physically unable to perform list. Either the Colts are confident that Sanders will be healthy enough to play, or they really coveted Cody Glenn.
They didn't covet him enough to draft him with either of their two fourth round picks, one of which was used on defensive tackle Terrance Taylor, whom did not make the final 53 man roster. Washington drafted Glenn in the fifth round of the 2009 draft, and since the Colts did not have a fifth round pick at all this year they probably weren't expecting him to fall to them in the sixth round.
Cody Glenn actually entered college as a running back, but eventually won the starting weak-side linebacker position for Nebraska in 2008. Although he has very little experience on defense, he has played both outside and inside linebacker spots.
The Colts have had success molding inexperienced players with raw talent before. Kelvin Hayden played wide receiver for most of his college career, but is now possibly the Colts' best corner back. If the Colts can groom Glenn the same way they did Hayden, they could end up getting a fifth round linebacker with first round talent.
Glenn has prototypical size for a Colts linebacker (basically a slightly bulky safety) at 6' 0", 244 lbs, and he ran a respectable 4.67 40-yard dash at his pro day workout. He is a physical tackler, good in pass coverage, and decent at shedding blocks. He has all the physical tools to succeed at the NFL level; his only downside going into the draft was his inexperience and small (by most teams' standards) size.
Since he is a still so raw as a defensive player, Glenn probably won't contribute to the Colts right away other than on special teams. Giordano was a standout special teams player, so Bill Polian and the Colts' scouting department must have seen something they really liked in Cody Glenn.
He's not guaranteed to be on the team for long, since Ed Johnson doesn't currently count as a member of the active roster. Once Johnson's one-week suspension has been served, the Colts will have to release another player. The team could elect to release Shane Andrus, since they customarily keep only one kicker. However, the Colts usually don't keep three quarterbacks on the active roster either, so anyone, including Cody Glenn, could be fair game.