Report: Colts shopping Franklin

The Indianapolis Colts are discussing potential trades involving linebacker Zaire Franklin, sources told ESPN's Adam Schefter.

Indianapolis is currently $4 million over the salary cap, according to Spotrac, and intends to shed enough salary to get under the cap before the new league year begins March 11.

Franklin is under contract through the 2027 campaign after signing a three-year, $31-million extension in 2024. His deal carries cap hits of over $8 million in 2026 and 2027.

The 29-year-old started every game over the last two campaigns. After leading the league in tackles (173) in 2024, Franklin recorded 125 tackles, two sacks, and one forced fumble last season while playing over 95% of the Colts' defensive snaps.

Franklin, whom Indianapolis selected in the seventh round of the 2018 draft, has spent his entire eight-year career with the team.

On Tuesday, Indianapolis used the transition tag on quarterback Daniel Jones, guaranteeing him a one-year, $37.833-million contract for 2026 if he doesn't reach an extension with the Colts or sign an offer sheet from another interested team.

Wide receiver Alec Pierce, who recorded a career-high 1,003 receiving yards last season, is set to become an unrestricted free agent. The Colts reportedly informed the 25-year-old that they want him back next season, but a new deal hasn't been agreed upon.

"I love Indy," Pierce said Wednesday on "Up & Adams."

"But at this point," he added, "I've kind of earned the right to explore free agency, see what's out there, and make a decision that's best for my career and for my family."