Reports have been circulating concerning the future of quarterback Carson Wentz in Indianapolis. It started earlier today when ESPN’s Chris Mortensen went on “NFL Countdown” and stated that, “By March 18, (Wentz) will probably be traded or released.”
The Colts traded for Wentz last offseason. Wentz played well for most of the year, throwing for 3,563 yards while tossing 27 touchdowns to only 7 interceptions. However, Wentz’s struggles down the stretch cost the Colts a playoff spot as they lost their final two games.
$15MM of Wentz’s salary for 2022 was guaranteed last March and the remaining $7MM of his 2022 salary will be guaranteed on March 18. March 18 is also the date that triggers a fully guaranteed roster bonus of $6.3MM for Wentz. So if the team were to cut Wentz before then, they would only be on the hook for the $15MM guaranteed last year and would save the $13.3MM due to him next month.
Joel Corry, who writes for CBS Sports on NFL contracts and salary caps, tweeted out some skepticism about releasing Wentz. He points out that the price the Colts paid to obtain Wentz last year (a 2021 third-round pick and a 2022 first-round pick) doesn’t point to a one-year rental.
The best case scenario is likely finding a trade candidate willing to take on Wentz’s full contract. They wouldn’t have much leverage in the negotiations, though, considering they’d be asking a team to take on a contract they don’t want to take on themselves. A more likely scenario would see the Colts include Wentz in conversations with a trade candidate wherein they can agree to a re-worked contract that works for both Wentz and the new team. That way, they can attempt to redeem some of the value they gave up to get Wentz last year while allowing them to move on from the sixth-year quarterback.
Whatever route they plan on taking, the Colts have a little over a month to navigate it. There are certainly some quarterback needy teams that would consider Wentz an upgrade and may have the cap space to take on a contract that would keep Wentz happy.