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COLTS

Colts’ 5 most important expiring contracts

Zak Keefer
zak.keefer@indystar.com

Mr. Irsay, happen to have your checkbook handy? Good. You’re going to need it. Soon.

Top row: T.Y. Hilton (left) and Anthony Castonzo. Bottom row: Coby Fleener (from left), Dwayne Allen, and Adam Vinatieri.

Winning in the NFL isn’t cheap. (The Colts owner knows this as well as anyone.) Neither is having the sort of success the Indianapolis Colts have enjoyed in the NFL draft under general manager Ryan Grigson. Pluck enough talent, enjoy the spoils of their rapid development and you’re going to have to find a way to pay them, very quickly, or risk losing a young star.

It’s the crossroads the Colts find themselves at entering the 2015 season. The returns on Grigson’s home run of a draft in 2012 are immeasurable — beyond just the three playoff berths, two AFC South titles and 33 victories, he has constructed a young nucleus of which the rest of the NFL is undoubtedly envious. Now it is time to pay that young nucleus.

Quarterback Andrew Luck will be paid soon, Jim Irsay has vowed over and over, though he’s already under contract through the 2016 season. The Colts exercised the player option on Luck’s rookie deal, and he’ll earn $16 million next season. Then he’ll stop being cheap.

Beyond Luck, there are a few other players vital to the Colts’ fortunes who are entering the last year of their current contract with the team. A look at the five most important heading into this season:

1. Receiver T.Y. Hilton

Colts receiver T.Y. Hilton finished sixth in the league in receiving yards last year (1,345).

2015 salary: $1.6 million.

What he’ll be seeking: $10-14 million/year.

What does value look like? Hilton is due a measly $1.6 million this season. For comparison’s sake: First-round pick Phillip Dorsett, who has yet to take an NFL snap, is due $1.4 million. Hilton plays like one of the game’s top receivers. Now he wants to be paid like one of the game’s top receivers.

His play in 2014 merits a raise to somewhere north of $10 million a season. The bar was set quite high this summer, after Dez Bryant and Demaryius Thomas inked deals with Dallas and Denver, respectively, that totaled $70 million each. Hilton noticed. His next deal figures to be a shade below, but not by much.

“If they want to pay me, they’ll pay me,” he said this summer of the Colts.

If Hilton is seeking leverage, he’s got plenty. He’s the Marvin Harrison to Andrew Luck’s Peyton Manning. Hilton hauled in 1,345 receiving yards last season, more than Tampa Bay’s Vincent Jackson (who’ll make $12 million this season), Washington’s DeSean Jackson ($9 million) and Dallas’ Bryant ($7 million). What kind of pace is he on? Hilton has more catches (214) and receiving yards (3,289) than any wideout in his first three seasons in Colts history. And yes, that includes Harrison.

Irsay said at the team’s minicamp in June, the Colts are determined to get a deal for Hilton done, possibly before the season starts in September. “I think we’re optimistic, obviously,” Irsay said. “My belief, and our team’s belief, Ryan (Grigson) and Chuck (Pagano) as well, is draft great players and keep great players.”

No Colt, with the possible exception of Luck, has outperformed his rookie deal quite like Hilton. It’s time for the Colts to pony up.

2. Left tackle Anthony Castonzo

2015 salary: $7.4 million.

What he’ll be seeking: $8-11 million/year.

Castonzo, the Colts’ rock on the left end of the offensive line, won’t be the 28th-highest paid left tackle in the league for long. He led the NFL in snaps last season (an even 1,400) and has proven the long-term solution to protect the franchise quarterback’s blind side. Left tackles aren’t cheap in today’s NFL, but the Colts would be wise to lock up Castonzo, and do so quickly. He’s safeguarding their future.

Like Hilton, Irsay said in June he’d like to get something done with Castonzo “sooner rather than later.”

3. Tight end Coby Fleener

2015 salary: $1.6 million.

What he’ll be seeking: $6-8 million/year.

Fleener’s 129 catches are the most by a Colts tight end in his first three seasons (Dallas Clark had just 91). He came into his own in 2014, routinely giving offensive coordinator Pep Hamilton a target defenses couldn’t keep up with while proving he was worth the second-round pick the Colts used on him in the 2012 draft. His 144-yard day against the Patriots in November was the third-most ever by a Colts tight end.

Why he’s so unique: Fleener’s a tight end in a wide receiver’s body (a young Jimmy Graham?) and he’ll want his unique skill set compensated for in his next contract. Along with fellow fourth-year target Dwayne Allen, Fleener is one of the best young tight ends in the game. Now he just needs to be paid like it.

4. Tight end Dwayne Allen

Indianapolis Colts tight end Dwayne Allen (83) celebrates his touchdown. He had eight last season.

2015 salary: $1.7 million.

What he’ll be seeking: $6-8 million/year.

When Allen’s good, he’s really, really good. Advanced statistics site Pro Football Focus ranked Allen the ninth-best tight end in football in 2014 — ahead of Graham, Julius Thomas and Heath Miller. Ahead of Fleener, too. Why? He’s exceptionally efficient — nearly a quarter of Allen’s catches went for first downs in 2014 — and he’s deadly in the red zone. Fleener and Allen became the first tight end duo to each grab eight touchdown passes in the same season.

What Allen must focus on: staying healthy. It’s the only blemish on an otherwise-promising résumé. A solid 2015 season — a complete season without any games on the sideline — and he’ll earn the contract he desires.

5. Place-kicker Adam Vinatieri

2015 salary: $2.7 million.

What he’ll be seeking: A 21st NFL season?

Vinatieri is 42, the oldest player in football. He’s kicking like he’s 32. The ageless wonder is coming off the most accurate season (30-for-31 in the regular season, a 96.8 percent clip) of his 19-year career and a third trip to the Pro Bowl. He said late last season his teammates — a group of guys, mind you, that are barely older than his own kids — still keep him young. He’s entering his 10th season in Indianapolis, which matches his decade-long stay in New England.

How much longer will he be at it? If Vinatieri puts together a 2015 campaign that mirrors his 2014, there’s no reason to believe he’ll be ready to hang it up.

Honorable mention: Linebacker Jerrell Freeman

Freeman didn't get the longterm deal he sought in the offseason. But he's back, playing on a one-year deal for $2.3 million. The Colts' leading tackler in 2012 and '13, Freeman's productivity dipped last season while he battled injuries. A solid bounce-back season will get Freeman the contract he wants.

Other notable Colts entering the last year of their contract: Running back Vick Ballard, cornerback Greg Toler, quarterback Matt Hasselbeck.

Call Star reporter Zak Keefer at (317) 444-6134. Follow him on Twitter: @zkeefer.