Indianapolis Colts: Stephon Gilmore handed two-year $23 million contract

A source told ESPN's Adam Schefter that the deal includes a guarantee of at least $14 million for the former Patriots cornerback.

The Colts also recruited former Philadelphia Eagles safety Rodney McLeod, announcing that deal on Thursday 14 April.

Ballard has traded corner Rock Ya-Sin for highly-rated edge rusher Yannick Ngakoue, he also signed corner Brandon Facyson, safeties Rodney McLeod and Armani Watts, and linebacker Brandon King.

The five-time Pro Bowler's time at the Patriots was overshadowed by injuries and a nasty contract dispute.

"When we started this season 0-3, we knew the rest of this season would be an uphill climb.

"We all were hopeful we could dig our way out of the hole and reach the playoffs, and we should have.

"But we ended our season in perhaps the worst way possible and missed our chance to compete for history.

Irsay promised: "The buck stops with me, and this experience makes me even more determined to bring Indiana a contending team.

"We are already working toward the future, and I'm going to do whatever it takes to put us in a position to win next year and for years to come.

"As always, thank you for your support of the Colts in 2021. This was a rough way to end our year, but this bad taste will fuel and motivate us even more next season. I promise you there are some exciting days to come."