Don Deal: A player valued over $900 million is welcomed by the Indianapolis Colts.

Don Deal: A player valued over $900 million is welcomed by the Indianapolis Colts.

Gardner Minshew, a free agent quarterback, and the Indianapolis Colts have agreed to a one-year contract, according to Tom Pelissero of NFL Network on Thursday.

After veteran quarterback Matt Ryan was released, it was previously reported that the Colts were considering adding Minshew. It is anticipated that Minshew will be the backup to the rookie quarterback the team chooses in the 2023 NFL draft.

Ian Rapoport of NFL Network reports that the agreement is for a one-year contract worth $3.5 million, fully guaranteed, with incentives available to increase the value to $5.5 million.

Minshew, who the Jacksonville Jaguars selected with the sixth overall pick in the 2019 NFL draft, is regarded as one of the best bridge options on the market.

The primary attraction in this situation is that Minshew is skilled enough to maintain the offense’s effectiveness should he need to step in, and it also helps that he has experience working in Shane Steichen’s offense for the past two seasons.

The Colts are still anticipated to select a quarterback in the first round despite Minshew being on the team. It is unclear which quarterback will start, but they have a backup plan in place to help that player develop.

Use our Colts free agency tracker to stay informed about the most recent announcements, rumors, and signings.