Trey Hendrickson hitting the free agent market is going to get plenty of teams on the phone - and the Indianapolis Colts have every reason to be one of them. The connection is already there: Colts defensive coordinator Lou Anarumo coached Hendrickson during his most dominant years in Cincinnati.
Under Anarumo’s system, Hendrickson didn’t just thrive - he terrorized quarterbacks, racking up back-to-back 17.5-sack seasons in 2023 and 2024. That kind of production doesn’t just happen by accident.
It’s a product of the right scheme, the right role, and a player who knows how to win off the edge.
Now, the Colts are in the market for exactly that kind of player. Outside of rookie Laiatu Latu, who flashed serious potential with 8.5 sacks this past season, Indy struggled to generate consistent pressure.
Latu’s total was more than double that of any other Colts defender - a stat that speaks volumes about the team’s current pass-rushing depth. Hendrickson may have finished the 2025 season with just four sacks, but he only played in seven games.
When healthy, he’s still one of the most disruptive edge defenders in the league.
The fit in Indianapolis makes sense on paper and on the field. But there’s a complication - and it’s wearing a star on its helmet.
The Dallas Cowboys are also in the mix for Hendrickson, and while they’re currently navigating the murky waters of negative cap space, they have the flexibility to clear room quickly. That gives them a potential edge over the Colts, who are projected to have around $33 million in cap space - but also have their own internal priorities to handle.
Re-signing quarterback Daniel Jones and wide receiver Alec Pierce will take a significant chunk out of that budget. Add in the costs of rounding out the roster, signing draft picks, and building out the practice squad, and suddenly that $33 million doesn’t stretch as far as it looks.
Hendrickson’s projected market value? Around $25 million per year, per Spotrac.
That’s elite money, and it puts the Colts in a position where they may have to choose: invest heavily in a proven pass rusher, or retain key offensive pieces for continuity.
That decision ultimately falls to general manager Chris Ballard. And it’s not an easy one.
Hendrickson turns 32 during the 2026 season and is coming off a year in which he missed 10 games. While he doesn’t have a lengthy injury history, age and recent availability are fair concerns - especially at a position that demands explosiveness and durability.
Still, the upside is hard to ignore. Anarumo knows exactly how to deploy Hendrickson - how to put him in positions to win, how to maximize his get-off, and how to scheme pressure around him. If Hendrickson returns to form, he’s the kind of player who can transform a defense.
And that’s where things get really interesting for Indianapolis.
Imagine a front seven anchored by DeForest Buckner, with Hendrickson coming off the edge. Add in a secondary featuring Sauce Gardner and Charvarius Ward, and suddenly the Colts’ defense looks like a unit that can swing games.
If the offense can recapture its early-2025 rhythm - the version that looked sharp, balanced, and dangerous - this team doesn’t just have playoff potential. It has the bones of a legitimate AFC contender.
The Colts are at a crossroads. They have a unique opportunity to reunite a dominant pass rusher with the coach who helped unlock his best football.
But it’s going to come down to priorities, cap management, and a little bit of risk tolerance. If they believe Hendrickson can still be that guy - the one who posted 35 sacks over two seasons - then they’ll need to make some bold moves to bring him in.
Because with Hendrickson in Indy, the Colts’ defense doesn’t just get better. It gets dangerous.