Buying or Selling Latest Indianapolis Colts Free-Agency Rumors

On Saturday, the NFL's legal tampering window opened for teams to begin negotiating with pending free agents. With the window opening, news was flying back and forth throughout the weekend as teams took the league-approved "talks" to the maximum.

Although several of the Indianapolis Colts' potential targets have reportedly agreed to sign deals elsewhere, there are plenty of big names available yet. The Colts haven't quite been the movers and shakers they were rumored to be, but still have their fair share of targets on the market.

So what can we make of these reported moves? Who will join former Philadelphia Eagles guard Todd Herremans—signed Sunday, per Kevin Bowen of Colts.com—as the Colts’ new veteran teammates in 2015?

Colts Are Not Interested in DeMarco Murray

Nam Y. Huh/Associated Press

The Colts need a running back, as the infamous Trent Richardson trade continues to haunt Indianapolis. The biggest name available on the free-agent market this year is DeMarco Murray, leading to a few connections between Murray and the Colts last week.

But ESPN.com's Mike Wells dropped a bomb on Sunday: That the Colts are not currently interested in signing Murray.

Verdict: Buy

All things considered, it makes sense for the Colts to pass on Murray.

Murray is a good back, but he's looking for a big payday, which just doesn't make sense for Indianapolis. The Colts are building around Andrew Luck and the passing game, not a high-profile rushing attack. The team just needs a versatile back to give the running back group some veteran leadership and fill one role on a committee.

Why? Because the 2014 draft is loaded with talent at running back, and it will likely be where the team can get the most value in the second, third or fourth rounds. With a rookie back from the middle rounds, a veteran and recently re-signed Dan Herron, the Colts will be in good shape for 2015.

However, with Frank Gore off the market, as well as Mark Ingram, the best reasonably priced power backs are now off the market. The Colts' best bet now may be to get a pass-catching back in free agency and look for a more steady runner in the draft.

OLB Trent Cole Visiting Indianapolis

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The Colts' lack of pass rush was a big problem last season, with the bulk of the team's pass rush coming on manufactured blitzes that left the secondary vulnerable against good quarterbacks. With Robert Mathis out for the season, the team lacked players who could win one-on-one matchups, and his age will make his effectiveness in 2015 a concern.

So, it's no surprise that the Colts are reportedly interested in pass-rushers.

Trent Cole is the first, and he'll be visiting the Colts after he finishes his visit with the Cleveland Browns on Monday, according to his Twitter account.

Verdict: Buy

With Colts general manager Ryan Grigson's connections back in Philadelphia, it's no surprise that the team is looking at Cole as potential short-term help as a pass-rusher. Brandon Graham, who is younger and coming off of a stronger campaign as an outside linebacker in Philadelphia, could have been a target, but Cole seems to be the only ex-Eagle Grigson is considering at the moment.

Cole received a positive-6.5 grade overall from Pro Football Focus in 2014, including a positive-11.3 grade in pass rush. But Cole's production took a nose dive in the final quarter of the season, and that was with the benefit of playing with a more talented defensive line in Philadelphia. He had just six total quarterback pressures from Week 13 to Week 17 after totaling 41 pressures in the first 12 weeks of the season.

Still, as short-term help (he's turning 32 this year), Cole is a decent fit with some talent left in the tank.

Colts a 'Serious Suitor' for Terrance Knighton

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With superstar defensive tackle Ndamukong Suh reportedly agreeing to terms with Miami, per Chris Mortensen of ESPN.com, teams will begin to turn to the next few names on the list, with Terrance Knighton of the Denver Broncos being at the top of said list. 

With the Colts' needs on the defensive line, they were sure to be linked to somebody, and it seems Knighton was the first to emerge. 

According to ESPN's Josina Anderson, the Colts are one of four teams showing "serious interest" in Knighton.

Verdict: Sell

I know the Colts need defensive line help, but going after more natural 3-4 fits may be a better option here. Take Haloti Ngata, for example, like CBS Sports' Jason La Confora alluded to on Sunday.

Besides, Knighton seems like a better lock to go elsewhere. He said in January that he wanted to go wherever Jack Del Rio, the former Denver defensive coordinator and current Oakland head coach, went. With the Raiders having more cap space than Indianapolis and likely being more desperate to sign impact free agents, I'd be surprised to see the Colts win that bidding war.

For what it's worth, Peter King of MMQB says Knighton will either be in Oakland or Washington by the time it's all said and done.

Colts Eyeing Da'Norris Searcy

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While Devin McCourty was re-signed by the New England Patriots on Sunday, per NFL Network's Ian Rapoport, the Colts have their eye on another safety out of the AFC East: Bills safety Da'Norris Searcy.

According to ESPN's Josina Anderson, the Colts were one of at least four teams that asked about Searcy on Saturday, along with the Houston Texans, Oakland Raiders and Miami Dolphins.

Verdict: Buy

The Colts may not win over Searcy, but the fit is certainly there. 

Grigson and the Colts love signing below-the-radar defensive prospects—like Greg Toler, Ricky Jean Francois or Erik Walden. Searcy had a strong season in Buffalo in 2014, earning a positive-8.6 grade from Pro Football Focus for the year.

A versatile player that can tackle well in the box, drop back in single-high coverage or take on man coverage assignments in the slot, Searcy fits everything the Colts would be looking for in a low-key move at safety. If the team was able to sign Searcy along with re-signing veteran Mike Adams, they could be reasonably set at the position for 2015, without pressure to have to draft a safety.

With the draft lacking talent and depth at safety, Searcy may be one of the best options left to take on a starting role. He's not completely proven, as 2014 was his first full year starting, but he's definitely worth offering a deal to, at the very least.

Colts Bidding Hard for Nick Fairley?

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If the Colts aren't getting Suh or Knighton, who is left on the defensive line market to help upgrade the Indianapolis front seven? Well, if it's not Pernell McPhee out of Baltimore, which still seems like a very possible option, Detroit's Nick Fairley could be a target.

According to Bleacher Report's Ian Wharton, the Colts could be going hard for Fairley:

"

As for Nick Fairley's next home, I've heard the #Colts are offering around double the guaranteed money as anyone else.

— Ian Wharton (@NFLFilmStudy) March 8, 2015"

Verdict: Buy, if McPhee is out of the picture

McPhee, Ngata or Dan Williams from Arizona still seem like the best fits for Indianapolis from a schematic perspective, but none of them has the overall talent that Fairley possesses. Still, Fairley has had motivation and weight issues in Detroit, and has never played a full season. He missed eight games last year and is a definite injury risk.

But the Colts have been hoarding cash and cutting veterans this year for something, and this could be the big move that the Colts are making. With guys like Gore, Suh and McCourty off the market, Fairley could be the free agent with the highest ceiling left.

*Update: McPhee is reportedly out of the picture, according to Scout.com's Aaron Leming.