Colts Release Matt Gay Two Years Into Record Kicker Contract

The team moves on from the veteran kicker following performance struggles and signs Spencer Schrader as a potential replacement.

Matt Gay, signed to a historic $22.5 million contract in 2023, was released by the Colts after two seasons due to declining performance.
Gay struggled particularly with long-range field goals, converting only 50% of attempts from 50 yards or more during his time in Indianapolis.
The Colts have signed kicker Spencer Schrader, who maintained a perfect record on field goal attempts last season, as part of their roster adjustments.
Gay attributed his struggles to the mental challenges of kicking rather than lingering effects from hernia surgery he underwent in the preseason.
The decision reflects the risks of large financial investments in specialist positions, as the Colts also face broader roster questions, including quarterback competition.