Cole spent the first decade of his career with the Philadelphia Eagles before signing a two-year, $14 million contract with the Colts last offseason.
The 33-year-old linebacker failed to produce the bounce-back season Indianapolis was hoping for, though. He racked up just 32 combined tackles and three sacks, which tied the lowest output of his career, in 14 games.
His mediocre production left the Colts with a decision to make. They either had to rework his contract to make his cap hit, which Spotrac pegged at just over $7 million for 2016, more manageable or let him go.
Cole posted a message on social media following the season with his thoughts:
Ultimately, the sides were able to find enough common ground to work out a new deal. It gives the Colts a little financial flexibility and ensures Cole, who might not have attracted much interest on the open market, gets a chance to prove himself.
Indianapolis could definitely use a return to form after ranking 22nd in sacks this past season. He's reached a double-digit sack total four times in his career, but not since 2011. He's averaged just a shade over five sacks per season since 2012 and didn't showcase much explosiveness off the edge last season.
The Colts were still willing to give him another chance. Now it's up to him to prove he can still make a major impact off the edge next season.