Welcome to the eleventh part of a thirty-two-part series: Reading the NFL Offseason Tea Leaves. Fantasy football tasseography is deeply rooted in the prediction of future fantasy fortunes. Some of the team tea cups we'll be looking into may be larger than others. The smallest of cups may have the most alluring blends of offensive weaponry, or be set to bloom after a long steep. This series will aid in your approach to Redraft and Dynasty leagues by bringing you up to date on:

• Free Agency
  • Re-signings, additions, who signed elsewhere, and what it means for fantasy.
• NFL Draft
  • What can we decipher about the direction a team is headed in based on their draft selections?
• Coaching Changes
  • Who's in, who's out, and how do the coaching philosophies translate to fantasy production?
• Fantasy Fortunes
  • What does this all mean for your fantasy football drafts?

Like tasseography, the arrangement of these four topics will vary as we digest each team's offseasons and see how the offensive pieces settle. Each article will interpret what the NFL team has told us about its future plans based on what it's done since its 2025 season ended.

Reading the Indianapolis Colts' 2026 Offseason

Free Agency: A WR Room Reshuffled

With WR Michael Pittman's departure to the Pittsburgh Steelers, Josh Downs is presumably set to step into his role with the Indianapolis Colts. Downs, Alec Pierce, and Tyler Warren will lead this team in targets in 2026. Pierce will act as the X-wideout, with Downs running as a flanker/slot, and Warren moving around the formation at TE.

Rookie WR Deion Burks will likely see use in a specialist/gadget role as he gets accustomed to the NFL. Burks is a physical freak, but his college usage was mostly screens and targets close to the line of scrimmage. Pierce is still recovering from an offseason ankle surgery as of the start of July and will miss the start of training camp.

It's never a good sign when a guy isn't at camp, and it's even more troubling when his QB is missing camp while recovering from an Achilles tear. Pierce signed a monster 4-year $116M contract this offseason to cement his role as a premier weapon in the Colts' offense.

Draft Day Additions: Handcuffing Jonathan Taylor

Behind RB Jonathan Taylor are second-year player DJ Giddens and rookie Seth McGowan. Giddens and McGowan will compete for backup duties behind Taylor. They're both capable RBs who can handle a three-down role. If Taylor misses time, it's likely Giddens who gets first crack as the starting RB. McGowan was in a 50/50 split last year in Kentucky, and would likely see a similar split with Giddens.

The Daniel Jones Question

Who will start the season at QB for the Colts? Will Daniel Jones recover in time from his Achilles tear to start Week 1? Or will it be Riley Leonard and Anthony Richardson battling for the right to start the season at QB? Will Richardson get traded to a team that will give him the opportunity to earn a starting job? Find out later this offseason!

One thing we know for sure is that Jones will be the starting QB for the Colts at some point, as they signed him to a two-year $88M contract this offseason.

Fantasy Fortunes

Veteran QB Jones' health concerns me. Without stable QB play, the offense might struggle to sustain drives. The talent in the skill positions will keep them afloat until Jones is fully healthy. It's unclear who will lead the team in targets in 2026, but the dollar signs point to Pierce.

If I had to place a wager on the end-of-season target leader, however, I'm likely putting $5 on Warren.

There's a chance this offense supports a QB2, an RB1, two WR2-4s, and a TE1 if the Achilles doesn't hold Jones back. However, don't be surprised if the offense underperforms expectations.

Taylor should be a locked-and-loaded RB1 again this year from a volume standpoint. Downs has become perennially undervalued and could serve as a release valve for Jones if Jones struggles to throw the ball deep to Pierce.

A high-end WR3 season from Downs is in the cards for 2026. It's a good offseason to acquire him in dynasty, as many managers are likely sick of waiting for his breakout.

Cam White is a Senior Analyst & Host at Optimus Fantasy. You can find more of his work on our YouTube channel, and make sure to follow him on Bluesky.