Colts Trade Rumors: Ryan Kelly on the Block, Mo Alie-Cox Potentially Available

As they readjust their long-term outlook with first-year head coach Shane Steichen, the Indianapolis Colts could reshuffle their offensive line in a big way this offseason.

ESPN's Jeremy Fowler reported Sunday that "sources with several NFL teams say three-time Pro Bowl center Ryan Kelly is available for a potential trade or release."

Fowler added tight end Mo Alie-Cox is viewed as a possible trade asset by rival teams as well.

Cutting or trading Kelly before June 1 would save $7.9 million for 2023 while putting $4.5 million in dead money on the books, per Spotrac. A post-June 1 move would bring even bigger savings ($10.1 million) while spreading the dead money equally ($2.3 million each year) across 2023 and 2024.

A separation one way or the other wouldn't be surprising given both Kelly's contract and the performance of Indianapolis' offensive line. Football Outsiders ranked the Colts 22nd in adjusted line yards and 28th in adjusted sack rate in 2022.

The Athletic's Zak Keefer wondered if general manager Chris Ballard foreshadowed what's to come at the NFL Scouting Combine:

"As for other moves the team might make, I thought it was interesting last week when Ballard listed some of his best offensive players, and failed to mention center Ryan Kelly, a two-time Pro Bowler who is due $12.3 million next season. Ballard mentioned Jonathan Taylor, Quenton Nelson and Braden Smith, but didn't mention Kelly, who struggled most of last season and wasn't the same player he'd been in previous years. Moving Kelly, via trade or otherwise, wouldn't stun me, especially with backup Danny Pinter under contract in 2023."

Along with hiring Steichen, the Colts are widely expected to at least have a quarterback near the top of their draft boards this spring.

With Indianapolis in a transitional phase, an expensive veteran—Kelly has the fifth-highest cap hit on the team—who turns 30 in May could be deemed a luxury rather than a necessity.

That same logic applies to Alie-Cox, who caught 19 passes for 189 yards and three touchdowns in 2022.

The 29-year-old has two years remaining on the three-year, $17.6 million contract he signed last offseason. Designating him as a post-June 1 cut would save the Colts $5.3 million and add nothing in dead money.

Maybe another team would be willing to part with a late-round pick in order to acquire Alie-Cox. Absent that, releasing him outright would give Indianapolis a little more financial flexibility.