Colts agreed to terms with WR Devin Funchess, formerly of the Panthers, on a one-year contract.

This is the type of signing GM Chris Ballard prefers to make. With teams shelling out insane money in free agency, Ballard instead takes a flier on a talented wideout like Funchess who is coming off a down season in Carolina. Funchess is by no means an All-Pro, but he can certainly elevate his game in Indy with a quarterback and offense upgrade from Cam Newton to Andrew Luck. The deal has a max value of $13 million should Funchess hit all his incentives.

Big upgrade over the WR2/3 hodgepodge that the Colts used last season.