Joe Flacco has agreed to sign with the Indianapolis Colts on a one-year deal worth $4.5 million guaranteed. The deal could be worth up to $8.7 million.

Flacco will serve as backup to Anthony Richardson. 

The Colts lost last year's backup, Gardner Minshew, to the Las Vegas Raiders.

The Indianapolis Colts are finalizing a three-year, $70 million deal with Michael Pittman, Jr., according to sources.

The wide receiver's new contract has a max value of $71.5 million and includes $46 million guaranteed.

The Colts placed the nonexclusive franchise tag on Pittman last week after the sides were unable to reach agreement on a long-term deal before the deadline.

The Indianapolis Colts have agreed to a three-year contract extension with linebacker Zaire Franklin.

Franklin had one year left on his contract.

The deal is reportedly worth $31.26 million. Franklin was a seventh round pick of the Colts back in 2018.