The Colts also waived S Josh Jones.
Kelly, 28, is a former first-round pick by the Colts back in 2016 out of Alabama. He played out the fourth year of his four-year, $10.45 million rookie contract and made a base salary of $1.4 million for the 2019 season and made a base salary of $10.35 million in 2020 under his fifth-year option.
He’s entering the first year of a four-year, $50 million that includes $30 million guaranteed.
In 2021, Kelly appeared in 12 games for the Colts, making 12 starts at center.
Willis, 25, was drafted by the Colts in the fourth round out of Michigan State in 2019 after the team traded up to select him. He’s in the third year of a four-year deal worth $3,285,102 with a $765,102 signing bonus.
In 2021, Willis has appeared in seven games for the Colts and recorded 38 total tackles, 1.5 sacks, one fumble recovery, two interceptions and three pass deflections. Pro Football Focus has him rated as the No. 77 safety out of 86 qualifying players.