The Indianapolis Colts made another splash on March 13, agreeing to sign pending free agent kicker Matt Gay to the biggest placekicker deal in free agent history, per a tweet from Fox Sports’ Peter Schrager.
NFL Network’s Tom Pelissero followed up Schrager’s tweet with the full contract details: Gay’s deal spans four years and is worth $22.5 million. It’s the most money over three years for a kicker, according to Pelissero.
Gay began his NFL career in 2019 with the Tampa Bay Buccaneers before joining the Los Angeles Rams in 2020. He spent the next three seasons in L.A., most notably winning the 2022 Super Bowl and earning Pro Bowl honors that same year.
The Indianapolis Star’s Joel A. Erickson noted that Gay’s production has trended upward recently, as he made 60 of 64 field goals the past two years.
In his career, Gay has made 101 out of a possible 115 field goal attempts, translating to an 87.8% clip.
Rarely are deals in free agency perfect for a player, his family, and the team. This is perfect. Welcome back to @Colts @gsefootball client @MGtweetymonster Congratulations on breaking even more records!
FOX59/CBS4 Sports’ Mike Chappell tweeted that Gay is the fifth-most accurate kicker of all time by percentage, trailing Harrison Butker, Daniel Carlson, Younghoe Koo and Justin Tucker. He also noted that Gay has made 17 of 23 field goals from 50 or more yards in his career.
What Matt Gay’s Contract Means for Indy
Spending about $5.6 million on average annually is a steep price for a kicker, but Colts general manager is clearly prioritizing special teams through the record-breaking deal.
Indianapolis is receiving a proven veteran who is just 28 years old and has experience at the highest level.
Horseshoe Huddle’s Destin Adams said the Colts buying in on a special teamer in free agency could mean the team could target a first-round quarterback.
“A rookie QB contract going forward will offer flexibility for the team that allows for spending on positions other teams with top paid veteran QBs have to neglect,” Adams wrote.
Gay joining the Colts marks the third free agent that has joined the team this offseason. Defensive end Tyquan Lewis signed on March 12, while E.J. Speed agreed to a deal just minutes before Gay.
The legal tampering period for free agency began on March 13, meaning teams could only hold negotiations with free agents. It’s important to note that no free-agent deal can become official until the new league year begins on March 15.
What About Chase McLaughlin?
Kicker Chase McLaughlin looked like he could have earned an extension to his second Indianapolis stint. McLaughlin, who played four games for the Colts in 2019, came back in 2022 for a full season.
He knocked in 83.3% of his field goal attempts, including going 9-for-12 from 50+ yards (with a long of 54 yards). He also did not miss an extra point attempt in 2022 (21-for-21).
Accuracy-wise, that was an improvement from his 2021 season with the Cleveland Browns. That year he finished 15-for-21 (71.4%) but was a perfect 4-for-4 from 50 yards or further.
Some like Adams thought McLaughlin may have done enough to win the starting kicker job.
“Chase had a great year and I thought he earned a shot to win the job for sure,” Adams tweeted. “But Gay has a longer track record of being one of the most accurate kickers in the entire league.”
The Colts might be hoping for added stability on special teams, as the team hasn’t had a true starting kicker since Adam Vinatieri last played in 2019.
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Colts Ink Super Bowl Champion to Record Contract: Report