[Editor's Note: The following is a guest post from Colts Authority Reader Matt Shedd. I hope you enjoy his approach to analyzing the Colts' free agent signings. Let him know in the comments below!]

I’m a Colts fan, and it’s free agency.  That typically means that I should be doing nothing but reading mock drafts, preparing to see the new stock of talent that the Colts will bring in and develop.  Of course, that was the pattern of fandom under the Old Regime.

This off-season, however, is filled with excitement—whether that is good for the team or not remains to be seen.  Free agency is exciting this year.  The Colts are actually going after people.  Jim Irsay is throwing money around like he is buying up real estate in a game of Monopoly.  The new excitement comes with a new set of questions.

What are the Colts actually getting out of all their money spent?  How do you even judge a GM during free agency?  How do you actually decide the value of a free agent?

That is the question I set out to understand.  You can judge FA acquisitions from a few different viewpoints, such as player talent, market, or raw numbers.  The question I wanted to seek, though, was what value each of our new players brought to their last team, and compare that to what we paid them.

While rumors of a mega deal for a mystery wide receiver continure to swirl, and Matt Hasselbeck has kinda almost just about finalized a deal  to be Andrew Luck's backup, we're going to take a quick look at some quotes and back stories for recent additions LaRon Landry, Donald Thomas, Gosder Cherilus, and Lawrence Sidbury.  

OG Donald Thomas

New England Patriots offensive guard Donald Thomas (64) is interviewed by recording artist Ciara (left) during media day in preparation for Super Bowl XLVI against the New York Giants at Lucas Oil Stadium. Mandatory Credit: Matthew Emmons-USA TODAY Sports

In summing up his reasoning for coming to Indianapolis, Donald Thomas said, "I feel like we have a really great team here and it’s on the rise. I really wanted to be a part of that.”  He's also here because he hasn't been a full-time starter since his second year in the league.  It's time for a new opportunity. 

The Patriots offensive line is very good, good enough to keep a solid player waiting in the wings behind Pro Bowl-caliber starters.  Thomas was one of their top backups, and he started seven games last season, including…that spectactularly awful Colts-Patriots contest. 

According to ESPN’s Football Journey feature on him from last year, Thomas was a walk-on at Connecticut who began playing football after his freshman year because he was bored.  With some encouragement from UConn football players, he tried out as a sophomore.  After working his way up from redshirt to special teams to a backup with a few starts under his belt, Thomas was invited to return as a fifth year senior with a scholarship.

Our look at the Colts' free-agent acquisitions continues here with a breakdown of LaRon Landry - signed to a 4 year, $24m deal last week, subsequent to the signings of the first day. Along with Greg Toler and Darius Butler, Landry is tasked with providing solidity on the back end and appropriate accompaniment for Antoine Bethea - something we haven't seen for years.

Safety play is something I've always enjoyed watching and breaking down - particularly those safeties with rare athletic skills and the ability to knock ball carriers into next week. Landry runs a 4.3 40 while standing at 6'0, 220lb - so he definitely qualifies. As I elaborated when assessing Toler, my main issue with the Colts' acquisitions and depth in the defensive backfield is a seeming focus on the run game - all of our starters are in my mind above average in stopping the run, though questionable as a unit when considering pass coverage. Landry is no exception, though a more thorough look at Landry's 2012 season helped alleviate my concerns slightly.

I'll dive right into the analysis, as i've spent a fair bit of time watching Landry and choosing appropriate coverage plays to highlight certain aspects of his game in pass defense. The first play I've chosen comes from the Redskins vs. Colts game of 2010 - Aaron Francisco, a game sealing interception, etc etc. The play in question comes from the 4th quarter and the last Colts possession - they're trying to burn both the clock and the remaining Washington timeouts. It's a 2nd and 10, with the first play in the series an incomplete pass - thus, the following is very important in the context of the game.

I've highlighted Dallas Clark's route on the play, along with the position of Landry at the snap. Upon taking the snap, Peyton will execute a play fake to Joseph Addai, clearing out the middle of the field for a man-on-man matchup between Clark and Landry, the former on a crossing route aiming for the marker.

One of the keys to the offseason for the Colts was to improve the offensive line. Whilst the signing of Lions right tackle Gosder Cherilus provides an upgrade over Winston Justice, the interior of the line provided the most concern.

And whilst the media regularly linked the team with moves for Buffalo Bills guard Andy Levitre and Louis Vasquez of the Chargers, General Manager Ryan Grigson chose not to pursue the bigger names on the market and instead moved for New England Patriots guard Donald Thomas.

A 27-year old lineman formerly of the Miami Dolphins and Detroit Lions, Thomas started just 7 games for the Patriots in 2012, mostly serving as a backup to Logan Mankins. However, Thomas impressed during his limited playing time, and Pro Football Focus graded Thomas at +10.2 for the 2012 season, ranking him as the 4^th best interior lineman available in free agency – above Vasquez.

The contract seems friendly too – 4 years at $14m is probably one of the more frugal moves the Colts made this week, particularly for someone who played well at both left and right guard.

From watching the footage of Patriots games, Thomas is a good pass protector, but also has the ability to drive linemen back to open up running lanes. It's these abilities that make him incredibly useful at both guard positions.

The first two plays are from the game against the Colts, with Thomas usually up against Fili Moala. The first play shown looks at his run blocking, and the particular play featured shows him at left guard.

Good morning, Colts fans.  Today, we'll take a quick look at three of the Colts recent free agent signees as they talk about what brought them to Indianapolis and what to expect from each of them.  As usual, all quotes are courtesy of the Indianapolis Colts Public Relations Department. 

(Benny Sieu-USA TODAY Sports)

LB Erik Walden

Erik Walden is a natural 3-4 outside linebacker (OLB).  He is known more for solid tackling and good pursuit than pass rushing, and he can drop into coverage and keep up with tight ends.  If Walden holds on to a starting job, that will allow Robert Mathis to move over to the right OLB, or “rush” linebacker position.  There, he won’t be asked to spend as much time in pass coverage, where he struggled last year, despite snagging his first career interception.

Walden will play primarily as the left OLB, or strong side linebacker.  When Mathis played on that side, the strong safety or an inside linebacker often had to cover the opposing tight end or running back on pass plays because Mathis had very little coverage experience.  With Walden on the strong side, Pagano will have another coverage option, occasionally freeing up the safety to provide help over the top and cover deep (or blitz, for that matter).  This will also free Robert Mathis up to take his relentless pass rush to the quarterback’s blind side.

Free Agency is 3 days old, the Colts have spent plenty of dough, Colts Authority takes a look at the big deals that will shape the NFL landscape! Live, at 8pm ET, March 14th, 2013. Join us!

December 30, 2012; San Francisco, CA, USA; San Francisco 49ers nose tackle Ricky Jean Francois (95) sacks Arizona Cardinals quarterback Brian Hoyer (6) during the third quarter at Candlestick Park. The 49ers defeated the Cardinals 27-13. Mandatory Credit: Kyle Terada-USA TODAY Sports
 

Shortly after 3:00 PM Eastern Time, Jason La Canfora of CBS Sports reported that the Colts had signed former 49ers Defensive Lineman Ricky Jean-Francois (6-3, 295, 26 years old) to a four year, $22 million deal.  Francois is listed as a defensive tackle, but has played both tackle and end for San Francisco, where both 3-4 ends are listed as tackles. 

According to the NFL Network’s Ian Rapoport, the Colts were competing with the Titans, Saints, and Philadelphia, which was Francois’s first free agent visit.  Some believed the versatile lineman would finish his free agent rounds before signing anywhere, but alas, the Colts won out before he could leave Indy. 

One of the earlier Colts moves on Tuesday evening was to sign former Arizona Cardinals cornerback Greg Toler to start the rebuild of the defensive backfield - a unit which descended to atrocious levels of play last year. He signed a 3-year, $15m deal to in theory join Vontae Davis as a starter. In keeping with our rundown on the Colts acquisitions thus far, here's the lowdown on Greg Toler.

An initial look at Toler doesn't yield a great deal of information - his 6'0, 193lb frame is fairly typical for the position, though he'll undoubtedly provide a clear length/reach upgrade on the now-departed Jerraud Powers (ironically enough, to Arizona). This was one of my primary issues with Powers - he couldn't easily match up with receivers in excess of 6'2 and expect to win in man coverage - Toler provides a more physical presence.

I've chosen three plays to highlight Toler's game - I know it's a small sample size. The fact is that his highlights (5 career INTs) weren't particularly helpful in terms of camera angles and the plays themselves being bad quarterbacking as opposed to great work on the back end.

I'll start with the most recent play I've chosen from Toler - taken from the Cardinals vs. Lions game in Week 15 of 2012. It's a 4th and 2 from the ARZ 2.

Firstly - context. It's a 4th and 2 with less than 6 minutes to go in a 2 score game. Toler is lined up at RCB opposite Kris Durham, Matthew Stafford's own version of Brandon Stokley. It's straight man coverage across the board.

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).