The Indianapolis Colts dipped their feet into the roaring waters of free agency last night by agreeing to terms with former Panthers wide receiver, Devin Funchess, on a one-year contract worth $13 million, a source told ESPN’s Chris Mortenson, who later added that the deal is split into chunks, paying Funchess a $10 million base and $3 million in available incentives.
Devin Funchess will sign a 1-year deal worth $13 million with the @Colts, per sources.
— Chris Mortensen (@mortreport) March 11, 2019
Although Funchess was the starter in Carolina for more than a year following the departure of Kelvin Benjamin, his numbers certainly aren’t what you’re looking for if you’re in the market for a higher-level receiver. Through 14 games (12 starts) in 2018, Funchess Hauled in just 44 of the 79 passes thrown in his direction for a total of 549 yards and four touchdowns.
The contract analysts at Spotrac projected Funchess to earn a four-year pact, but they only predicted he would receive $35.6 million over those four seasons, a total of just $8.4 million per season, which is far less than what the Colts are giving him.
Funchess will likely slide into the No. 2 slot on the depth chart behind T.Y. Hilton. A wide receiver signing was high on the list of the Colts’ offseason priorities, and they get the task accomplished on the first day of the tampering period.