Dec. 2, 2012; East Rutherford, NJ, USA; New York Jets free safety LaRon Landry (30) intercepts a pass intended for Arizona Cardinals wide receiver Michael Floyd (15) during the first half at MetLife Stadium. Mandatory Credit: Debby Wong-USA TODAY Sports

The Colts have inked a four-year contract with Pro-Bowl Safety LaRon Landry (6-0, 220 pounds, 28 years old).  The New York Jets had wanted to retain the 28-year-old tackle machine but couldn’t find a way to fit him under the salary cap.  Landry’s deal is worth a reported $24 million with $14 million guaranteed according to CBS Sports’ Jason La Canfora (@JasonLaCanfora), who reported the deal on Twitter around 11:30 Wednesday night.  Mr. Grigson, it appears, has been working late. 

With Landry, Indianapolis has vastly upgraded the safety position without breaking the bank.  Landry has made a name for himself as both a solid tackler and a punishing hitter.  He is at his best against the run but can get out and cover well for such a big guy.  

I had this whole waves vs. ripples analogy ready to go but then I saw that Indy Star had already beaten me to the punch.  In all seriousness, I know that many of us expected some big marquee names to be inked yesterday, what with the veritable treasure trove of money we had burning a hole in Irsay’s man cave (and our eccentric owner’s tweets about suitcases full of 100 million dollars did little to lessen that expectation), but I think it’s notable and, dare I say, laudable even that Ryan Grigson practiced what he has been preaching all week and didn’t spend money just to spend it. 

While our flush cohorts, Cleveland and Miami, were handing out 8 figure salaries like bong hits at Woodstock, Grigson kept a level head and made some solid under-the-radar signings that will both help this team get better and not cripple the franchise should one or more of them not pan out (I admit, I don’t understand paying Erik Walden $16 million, but that’s someone else’s problem).

He could have swung for the fences, and no one but Pete Prisco and Nate Dunlevy would have criticized him for it. With nearly $50-million in cap space, more holes than a swiss cheese factory, and an owner willing to throw his 2012 Executive of the Year Award in the face of any doubter, Ryan Grigson had the figurative blank check in his hands.

But instead of signing the top-rated free agents, relying on getting 1 or 2 big-ticket names to patch those holes, Grigson relied on his scouting department to find pieces he felt fit his team's needs, without breaking the bank.

Dec. 2, 2012; East Rutherford, NJ, USA; Arizona Cardinals cornerback Greg Toler (28) knocks the ball away from New York Jets wide receiver Chaz Schilens (85) during the first half at MetLife Stadium. Mandatory Credit: Debby Wong-USA TODAY Sports

According to reports from CBS Sports, ESPN, and the Baltimore Sun (yep), the Indianapolis Colts have come to an agreement with former Arizona Cardinals cornerback Greg Toler.  The contract is reportedly a three-year $15 million dollar deal, according to the Baltimore Sun. 

Toler is 28 years old, 6-0, 192 pounds, and played a lot at the nickel spot in Arizona, where he had 27 tackles and 2 interceptions last season.  He was originally drafted in the fourth round in 2009 out of St. Paul's College in Virginia, and, according his Wikipedia page, he was the first player from his alma mater ever to be selected in the NFL Draft. 

Toler actually earned the starting job in his second year in Arizona before tearing his ACL, which caused him to miss the following season (2011).  He came back and played twelve games, starting two, last year, but the Cardinals did not re-sign him. 

(Mark J. Rebilas-USA TODAY Sports)

While big names such as Phil Loadholt and Andy Levitre signed with other teams the Colts quietly picked up a quality offensive lineman in former Detroit Lions right tackle Gosder Cherilus, according to ESPN. At 6-7, 325 pounds, Cherilus is a mauler, a strong, physical tackle known for blocking with a bit of a mean streak.  Indy wanted to get bigger and stronger up front, and it looks like they are well on their way. 

Drafted 17^th overall in 2008, Cherilus has started 71 NFL games for the Lions. If he remains at right tackle, the Colts will have an offensive line book-ended by Boston College graduates, though he and Costanzo did not play there at the same time.  (Correction- 3/16/13: Cherilus and Costanzo were teammates during Costanzo's freshman year)

Cherilus should fit in well with the Colts' team culture in that he is heavily involved in charity and community events. According to Wikipedia, his foundation is active in Haiti, where he was born, and he is active around the city of Detroit, holding football camps and working with the homeless population there. Cherilus has also raised funds for children with disabilities in the Boston area.  Anyone who lives in or near Indianapolis knows how active the Colts players are in the community, and their newest addition should mesh very well with that philosophy. 

At the time this was published, the terms of the deal were not yet available.  Keep stopping by Colts Authority this week for a more in-depth look at each of the team's major signings. 

In the meantime, here are some quick links to learn more about our newest Colt:

ESPN's Paul Kuharsky: Colts get more physical up front with Cherilus

Cherilus's Wikipedia page

Cherilus's NFL Draft profile from 2008

Gosder Cherilus Foundation

Colts Authority Radio is Live, bringing you instant breaking news and analysis for all of the trades and signings as NFL Free Agency Opens at 4pm ET on March 12th. Hope you'll join in the discussion!

"Off-season Champs, 10-years running." That's the typical barb tossed in the general direction of Daniel Snyder's Washington Redskins, who make a point of winning every free agency period with big splashes and fast money. Colts fans would eagerly join in the bashing, reminding everyone the key lesson they'd learned under their tutelage with Bill Polian: the best teams build through the draft.

Now, with a new GM, a new CBA, and, most importantly, nearly $50-million in cap space, Colts fans are singing a different tune. As Santa would call his Reindeer to the ready, so are Colts fans calling on recently-teamless NFL players: "On Levitre and Vasquez, and Paul Kruger, too. On Avril and Reed and Asomugha."

While 2012 will always be Grigson's most memorable off-season as GM - it was his first season ever as a GM, he cut Peyton Manning, drafted Andrew Luck, hired Chuck Pagano, saved a child from a runaway bus and put out 3 forest fires - 2013 may be his most critical. Not only will Grigson be doing something his predecessor never did - filling multiple gaping holes during a free agency period that demands you overpay anyone you sign - but he'll be irrevocably changing the roster and salary cap structure for the next 5 years.

The Colts’ biggest weakness going into the 2013 offseason is the interior offensive line.

At center, Samson Satele was a train wreck in 2012, although his replacement, A.Q. Shipley, did perform well when called upon.

With Mike McGlynn manning the right guard spot, and the three-man team of Seth Olsen, Jeff Linkenbach, and Joe Reitz playing at left guard, the guard position was in even worse shape.

With Satele still having two years left on his semi-pricey deal, I see little chance that the team goes in a different direction this offseason.

Guard though, is a different story. None of last year’s contributors are owed big money, and it was assumed than none of the four were long-term options. With a decent guard class in free agency, and between $39 and $43 million in cap room (depending on who you ask), it’s the perfect time to remedy the situation.

The two top guards in the free agent class are Andy Levitre and Louis Vasquez, based on their history and youth. Both guards are very good pass protectors, with average run blocking skills. The Colts have been rumored to be interested in both players, but likely won’t sign both to big contracts. While I could see them spending a decent amount on multiple offensive linemen, I don’t foresee two big contracts to guards.

So, what is the difference between the two? I’ve been asked the question several times by readers, and it’s time to break it down fully.

Even though free agency hasn't technically started (Legal tampering period starts at midnight tonight), we've already gotten news of several important re-signings and deals. 

With those deals come critics, especially fans and analysts crying about player X getting overpaid. 

It's not new, or unexpected. It happens every single offseason. Some veteran player gets a big-money deal and people cry overpaid. Sometimes is a team picking up a free agent off the market, sometimes it's a team re-signing its own guys. But no matter what, every offseason, someone is going to be overpaid. 

Why? 

Because every free agent gets overpaid. 

In light of the Free Agency period starting next week, the following is a run-down of recent developments in the FA market. I've concentrated on the three main areas of need for the Colts - OL; CB; WR.

With the deadline passing on Monday for teams to use the franchise tag, the picture became clearer with regard to potential Colts targeta in the offseason. For posterity, the list of franchise tags is as follows.

Franchise Tags

Branden Albert - Kansas City Chiefs - OT

One of the better pass protectors league-wide, Albert received the tag in light of the Chiefs' successful contract negotiation with Dwayne Bowe. Would seem to be a curious situation in light of yesterday's release of Eric Winston - Albert has steadfastly maintained that he's a LT, and to use the #1 overall pick on a future RT would seem to be folly. Look for Albert to hit the market next year.

Jairus Byrd - Buffalo Bills - FS

As expected, the Bills tagged their marquee playmaker on the back end.

Ryan Clady - Denver Broncos - OT

Same as above, a tag everyone expected. Anyone willing to give a first and a third for a franchise pass protector?

Anthony Spencer - Dallas Cowboys - OLB/DE

This was a bizarre one - and as a Colts fan, i'm fairly grateful. The Cowboys opted to pay Spencer over $10.6m for 2013 despite a position change from 3-4 OLB to 4-3 DE. Had a feeling that the Colts might've pursued and overpaid for Spencer, so we should be thankful for small mercies and Jerry Jones.

The other tags utilised by teams across the league didn't have a particularly significant effect on our free agency plans, given schematic and positional depth differences. Michael Johnson of the Bengals, Randy Starks of the Dolphins, Henry Melton of the Bears and our very own Pat McAfee were the other players to receive the tag.