The short take: we like it, don't love it.
The long take: This had to get done, was going to get done, and now that it's done it sets up a ripple effect for the rest of the Colts' roster. First, Bob Sanders - if he starts at least 10 regular-season games next season - should expect a new deal sometime in late February 2008. The Colts would be wise to try for something in the four-to-five year range. We love Sanders as much - or maybe more - than any Colts fan, but we don't want to lock him up past age 30. The speed and violence with which he plays is why we admire him, but it also makes it impossible for him to stay on the field for long stretches.
Second, Dallas Clark will sign a new deal a month or two after Sanders. We envision the Colts letting Clark dangle on the open market for about a month, and once he realizes no one other team knows how good he is, he'll be eager to re-up with the Colts. Clark is not an indispensable component of the Colts offense; the problem for him is that the organization is very much aware of that fact and will likely dangle it over his agent's head. If the Colts can let Edgerrin James - supposedly the engine that drove the Colts offense - go and not miss a beat, they can withstand the loss of a tight end who's never caught 50 balls in a season.
Lastly, this will be the last season in a Colts uniform for Tarik Glenn. He's been a Colt for more than a decade, has racked up multiple Pro Bowl appearances and is as good a left tackle as there is in the NFL. But the Colts can't afford to dole out big money to an aging linemen, especially when they mortgaged next year's first-round pick for his future replacement (Tony Ugoh). Especially not with Joseph Addai's rookie contract expiring in 2010. That seems far off, but it's really not in the world of the NFL salary cap. Freeney's deal is good for the Colts, a little more money than we think he's worth, but we're secure that he's secure.
Now let's go win another ring.
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