The two sides reportedly have “mutual interest” in a long-term extension, but it appears as though there is still a good amount of work to be done.
The franchise tag would run them $11.834 million for the 2014 season.
The Colts sent the Dolphins a second-round pick in return for Davis who has stepped in and filled an important role for their defense. Replacing him in the free agent market would likely end up being very costly, so there is a large incentive in place for Indianapolis to get an extension worked out with Davis in the coming weeks.
Davis, 25, was clearly the Colts best defensive back this season and was rated as the No. 3 cornerback by Pro Football Focus. In 2013, he produced, 46 tackles, one interception and 12 passes defensed.
We have Davis listed as the No. 14 player in our Top 50 Free Agents list.