Dwight Freeney Trade Rumors: The Latest Buzz Around Colts' Star DE

The Indianapolis Colts have been trying to trade Pro Bowl defensive end Dwight Freeney for a few weeks now, but it doesn't look like that will happen.

Freeney carries a $14.035 million salary and a cap figure of more than $19 million, so no team is going to agree to a deal to put that much money on its ledger. The seven-time Pro Bowler would likely have plenty of suitors on the open market, but he would earn far less than the $14 million he's scheduled to make. 

The 32-year-old defensive end simply doesn't fit new head coach Chuck Pagano's 3-4 system, and the Colts must realized that. As a result they singed free agent Cory Redding on Wednesday to man the defensive end spot in the team's new scheme. Redding played under Pagano in Baltimore. 

The signing of Redding likely means the Colts will just go ahead and cut Freeney loose, as they can't afford to have his salary on the books if he doesn't fit in the team's new defense. 

The Colts had tried to restructure Freeney's contract, but he recently hired popular firm Creative Artists Agency to represent him. It hasn't happened, and now they have signed another defensive end. 

As of now it doesn't look like the 10-year veteran who has played his entire career in Indianapolis will be back with the Colts. The most likely scenario will see him cut loose, leaving him playing somewhere else—likely a team that runs a 4-3—next season.

To tally it up, the Colts have now parted ways with Peyton Manning, Dallas Clark, Pierre Garcon and Joseph Addai, and center Jeff Saturday is unlikely to be re-signed. Freeney appears to be next on the chopping block thanks to Indianapolis' rebuilding project.