Lamar Jackson Offer Sheet Must Be Considered by Colts amid Latest NFL Rumors

The Indianapolis Colts own the fourth overall pick in April's draft and finally appear poised to draft a quarterback instead of taking a chance on a veteran. Over the past three seasons, Indy has tried Philip Rivers, Carson Wentz and Matt Ryan in one-year stints to varying degrees of success.

Rivers helped the Colts reach the postseason, while Wentz and Ryan flopped.

Indianapolis might already be eyeing Florida quarterback prospect Anthony Richardson, a dynamic dual-threat who would certainly be a fit for new head coach Shane Steichen's offense—or, at least, the one he ran with Jalen Hurts and the Philadelphia Eagles last year.

Here's the problem. The Carolina Panthers have already traded up to the No. 1 slot in the draft and will presumably take a quarterback there. The Houston Texans will take a quarterback at No. 2, and the Arizona Cardinals could sell the third overall pick to a quarterback-needy team.

The Colts will be looking at QB3 or QB4 in April. There's no guarantee that they'll get Richardson, and there's even less of a certainty that a rookie quarterback will pan out.

Therefore, general manager Chris Ballard and the Colts would be foolish not to consider going with another veteran this offseason—specifically, Baltimore Ravens signal-caller Lamar Jackson.

Baltimore gave Jackson the non-exclusive franchise tag last week, and interested teams can sign him to an offer sheet beginning at 4 p.m. ET on Wednesday. If a team gives him an offer that the Ravens don't match, it can sign Jackson and send two first-round picks to Baltimore.

Only, it seems that teams don't actually want to sign Jackson to an offer sheet.

"There are teams interested in pursuing a potential Jackson trade if he decides he wants out of Baltimore, but I don't know that you'll see anyone submit a formal offer sheet that puts two first-round draft picks at risk if the Ravens don't match," ESPN's Dan Graziano wrote on Sunday.

The Colts should be the team to make that offer. Jackson is a former league MVP, has proved he can carry a team to the postseason and is the NFL's preeminent dual threat when healthy—he'd be a lot of fun in Steichen's offense, too.

Adding Jackson would immediately make Indianapolis a danger in the AFC South.

There would be risks, of course. Two first-round picks aren't nothing, though it's less than what quarterbacks Deshaun Watson and Russell Wilson commanded on the trade market last year. Jackson has also suffered season-ending injuries in each of the past two seasons and is seeking a fully guaranteed contract, according to ESPN's Jamison Hensley,

If Jackson can't stay healthy, making a play for him could bust. Of course, so could a rookie who has proved absolutely nothing at the pro level.

As for the financial commitment, Indianapolis is in a better position to make something work than it was a couple of days ago. It traded cornerback Stephon Gilmore and his $8 million base salary on Tuesday. It also released Ryan.

Signing Jackson to an offer sheet would be a gamble, but Jackson is a player worth betting on. He's shown that he can be a consistent winner (45-16 regular-season record), and at only 26 years old, he's poised to continue winning for a long time.

The Colts owe it to themselves to at least make an offer. If Jackson says no or the Ravens match, Indy can simply turn its attention back to the draft.