Instant analysis of Colts trading CB Stephon Gilmore

The Indianapolis Colts made a shocking move Tuesday, agreeing to trade cornerback Stephon Gilmore to the Dallas Cowboys in exchange for a fifth-round pick in the 2023 NFL draft.

As the Colts look to save some money against the salary cap, they’ll get back a big chunk of change. However, their need to add to the cornerback position grew even more following this move.

Though the trade cannot become official until Wednesday at 4:00 p.m. ET, which is the start of the new league year, the Colts will be extremely thin at the cornerback position.

Here’s our instant analysis of the trade that sends Gilmore to Dallas:

Depth chart impact

AP Photo/Joshua Bessex

The departure of Gilmore leaves a massive hole in the cornerback depth chart. They no longer have a true No. 1 boundary cornerback, and it’s likely more moves are coming at the position.

Here’s an updated look at the depth chart—excluding pending free agents—once the trade is official:




Isaiah Rodgers Sr.

Kenny Moore II

Dallis Flowers

Darrell Baker Jr.

David Vereen

Kevin Toliver II

Both Rodgers Sr. and Moore are entering contract years, and Moore himself has been involved in trade rumors this offseason.

How this impacts the draft

Carmen Mandato/Getty Images

The top need for the Colts in the draft is to find a potential franchise quarterback. Before this trade, the second-biggest need was thought to be the offensive line. Now, the cornerback position likely takes that spot. The room is extremely bare to the point where it wouldn’t be a surprise if the Colts used their second-round pick (No. 35 overall) AND a later Day 3 pick to add depth to the cornerback room.

Some cornerbacks to keep an eye on early in the second round include Kelee Ringo (Georgia), Julius Brents (Kansas State), Deonte Banks (Maryland) and Darius Rush (South Carolina) to name a few.

How this impacts free agency

Joe Nicholson-USA TODAY Sports

Even though the main focus of addition at cornerback will come through the draft, the Colts still must be looking to sign some veterans in free agency. Even if it’s on a one-year deal, the room is lacking quality depth. The position becomes even more of a priority now, especially with a potential Kenny Moore II trade looming.

Some quality free agents the Colts could consider include Rock Ya-Sin (Raiders), Shaquill Griffin (Jaguars) and Byron Murphy Jr. (Cardinals) to name a few.

Instant grade

Dustin Bradford/Getty Images

Grading stuff like this is arbitrary, but we’re going to do it anyway. The Colts only received a 2023 fifth-round pick from the Cowboys and because it’s a compensatory selection, it comes at the end of the round. The main objective here was to clear salary-cap space. They did that, but the compensation they received in return is still pretty lacking. Even with how well Gilmore played, he’s 32 and set to be a free agent so it’s unrealistic to expect much more than what the Colts got.

So in a word? Meh.

Grade: C

Story originally appeared on Colts Wire