The Indianapolis Colts selected Kentucky RB Seth McGowan in Round 7 of the 2026 NFL Draft. McGowan began his career at Oklahoma in 2022. Robbery and battery charges derailed his path, though. “It was difficult. At some point, I was facing like 70 years,” he admitted in comments made to Kentucky Sports Radio. He resurfaced at Butler Community College in 2023 before jumping to New Mexico State in 2024. There, he out-produced fellow prospect Mike Washington Jr. 5.4 yards per carry to 4.6. McGowan’s 2025 slipped, however, as he mustered only 4.4 YPC at Kentucky. Among the 20 RBs invited to the NFL Combine, McGowan ranked seventh in 2025 rushing market share (47.5%), and 17th in yards after contact per attempt (2.72). He ranked 12th in 2025 missed tackles forced per attempt (0.21) and 17th in receiving yards per route run (0.70). He is currently 25 years old.

The Colts grabbed Georgia LB CJ Allen in the second round of the NFL Draft. Allen spent nearly two-and-a-half years starting for the Bulldogs, showing out particularly well in run defense over the past two seasons. He entered the draft a year early.

Colts QB Daniel Jones has taken a step forward in his recovery, recently resuming dropbacks and throwing. The 28-year-old suffered a ruptured right Achilles tendon on December 28 and underwent surgery two days later.

Colts GM Chris Ballard revealed Monday that WR Alec Pierce recently had ankle surgery. Pierce is expected to need about three months to recover and "should be back sometime during training camp," according to James Boyd of The Athletic.

Colts WR Josh Downs has been efficient through three NFL seasons, averaging 1.74 yards per route. But he's struggled for reliable fantasy value because of his role. Downs has run 81.5% of his routes from the slot and played very little in three-WR sets. That's resulted in route rates of 75%, 75%, and 67%, respectively, over his three seasons. But with WR Michael Pittman's departure, there's a chance Downs gets a full-time role in 2026. And that'd make him an exciting fantasy prospect.

The Colts and QB Daniel Jones have agreed to a two-year, $88 million deal with $50 million fully guaranteed, according to multiple reports. Jones can make up two $100 million via incentives. It's a significant raise from the $37.8 million Jones was slated to make this season on the transition tag.

The Colts and WR Alec Pierce have agreed to a four-year, $114 million deal with $84 million guaranteed, according to multiple reports. NFL Network's Ian Rapoport notes that it's the biggest deal ever given to a free-agent WR. Pierce's $28.5 million average annual salary makes him the league's 11th-highest-paid WR -- just behind Tee Higgins and right in front of Jaylen Waddle.

The Colts are using the transition tag on QB Daniel Jones, according to multiple reports. That'll pay Jones $37.8 million on a one-year deal. That's about $6 million less than the franchise-tag number for QBs -- but gives Jones the chance to negotiate a long-term deal with other teams. The Colts would have the chance to match any deal and retain Jones. Per NFL Network's Ian Rapoport, this is the first time the transition tag has been used on a QB since Jeff George in 1996.

Colts QB Anthony Richardson has been given permission to seek a trade, according to Stephen Holder of ESPN. Richardson threw only two passes in 2025 as the backup to Daniel Jones. He suffered an orbital fracture during pregame warmups before the Colts' Week 6 game and underwent surgery in October.

The Colts are expected to start QB Riley Leonard this Sunday against the Texans, according to multiple reports.

Colts HC Shane Steichen confirmed Monday that QB Philip Rivers will start again in Week 16 against the 49ers.

Colts QB Anthony Richardson has been medically cleared after fracturing his orbital bone on October 12, according to CBS Sports' Matt Zenitz. "The hope is to have him back practicing in the near future," Zenitz adds. Richardson has been out for over two months and isn't exactly what we'd call a polished player. So it might be asking too much to have him play again this season. His odds of getting back out there would probably improve if the Colts are eliminated from playoff contention. (They currently have just an 8% chance to make it, according to The Athletic's Playoff Predictor.) You could stash Richardson in deep 2-QB and superflex leagues, but don't drop anyone of value for him.

Colts RB Jonathan Taylor survived with some fantasy value in Sunday's first game since the season-ending injury to QB Daniel Jones. Taylor ran for 87 yards on 25 carries and caught three of four targets for 14 more. Taylor's 3.5 yards per rush fell right in line with the 3.5 Seattle has allowed to the position for the season. Taylor's 13.1 PPR points marked the sixth-largest total for a QB against the Seahawks this season.

It's fun that the Colts almost upset the Seahawks in QB Philip Rivers' first game since 2020. But he certainly didn't boost the fantasy fortunes of anyone around him. Rivers completed a solid 18 of his 27 throws (66.7% completions) and found Josh Downs for an 8-yard TD. But he totaled just 120 yards (4.44 yards per attempt) and added an INT as well.

Colts QB Daniel Jones is expected to miss six to eight months following Achilles surgery, per ESPN's Adam Schefter. The 28-year-old underwent surgery on Tuesday.

NFL Network's Ian Rapoport and ESPN's Adam Schefter report that Colts QB Philip Rivers will start Sunday's game vs. the Seahawks. It's been trending in this direction for the past few days. Rapoport adds that Rivers and QB Riley Leonard both got first-team reps in practice this week and both could play against Seattle. We imagine that'll only happen if Rivers struggles or gets hurt -- but either outcome is plenty possible. Rivers is 44 and hasn't played since 2020. Stay far away from this situation in Week 15 fantasy lineups. All of Indianapolis' skill-position players sit lower than usual in the Week 15 rankings.

ESPN's Stephen Holder believes the Colts are preparing to start QB Philip Rivers vs. the Seahawks on Sunday. "Two days in now, and my time in the building this week has left me only MORE convinced Philip Rivers is this week's starting quarterback," Holder wrote. "It isn't difficult to tell who a team is prepping to start. That player is Rivers. Period." It's not shocking that the Colts don't want to start sixth-round rookie QB Riley Leonard in Seattle. But they'll instead go with a 44-year-old who hasn't played since 2020 and joined the team just a few days ago. Rivers is at least comfortable in HC Shane Steichen's offense, but we don't imagine this going particularly well. Rivers isn't a viable starter in any fantasy format, and Colts pass catchers remain risky bets in Week 15 fantasy lineups.

Colts QB Anthony Richardson attended practice Wednesday for the first time in a while. His IR status keeps him off the injury report for the week, but video shows him wearing a red, non-contact jersey. That indicates some level of participation. Richardson has been out since suffering an orbital-bone fracture (eye socket) before the Week 6 win over the Cardinals.

Colts QB Riley Leonard (knee) was a full participant in Wednesday's practice. It looks like he'll be available for this weekend's game vs. the Seahawks, although we don't know whether it'll be Leonard or Philip Rivers under center for that one. "We'll see how the week goes," HC Shane Steichen said Wednesday. "We'll get to the end of the week and make that decision." Indianapolis' passing game will be a shaky fantasy bet regardless of who gets the start on Sunday.

The Indianapolis Colts have signed veteran QB Philip Rivers to their practice squad. With QB Riley Leonard week-to-week with a knee injury, Rivers bolsters the QB depth in case he is needed. He will compete with QB Brett Rypien, also on the practice squad, for the back-up job. But, it isn’t out of the question for Rivers to start at some point with the Colts trying to claw their way into the playoffs.