Colts GM explains decision after releasing $22 million Pro Bowler

The Indianapolis Colts made a surprising move earlier this month, parting ways with kicker Matt Gay ahead of the 2025 NFL Draft.

Despite signing Gay to a four-year deal worth $22.5 million during the 2023 offseason — the highest free-agent contract for a kicker at the time — the Colts ultimately decided to move on from the polarizing kicker.

During his pre-draft press conference Monday, general manager Chris Ballard shared some insight into why that decision was made.

"Matt is still going to be a good kicker in this league. I think a lot of it had to do with Spencer (Shrader). Having Spencer last year gave us a real insight to his talent level. Then he leaves us and performs and performs at two different teams. You know how hard that is? That's difficult now, to go to two different teams and have to perform – that is not easy," Ballard said. "This had more to do with Spencer than it did, really, with Matt.”

Though Gay was considered one of the best kickers in the NFL at the time of the signing — coming off a Pro Bowl selection in 2022 — his production was far too inconsistent for the Colts' liking. On top of that, his failure to be a true difference-maker on attempts beyond 50 yards ultimately sealed the deal.

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At the time of the signing in 2023, Gay was coming off a three-year stretch in which he converted 92.5% of his field-goal attempts. He struggled incredibly with consistency during his time with the Colts, converting just 82.1% of his field-goal attempts.

The bigger issue came with his inability to convert longer field goals. Gay converted just 11-of-22 attempts from beyond 50 yards during his two seasons with the Colts, missing six such kicks in 2024.

The Colts are still expected to bring in competition for Shrader, but it's clear he has the inside track to the starting job.

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