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Report: Colts agree to two-year, $9 million deal with E.J. Speed

Mike Florio and Myles Simmons play a round of "What's more likely?" to evaluate the Colts' and Panthers' cases to try to trade with the Bears for the No. 1 2023 NFL Draft pick.

The Colts are bringing back free agent linebacker E.J. Speed on a two-year, $9 million deal, Mike Garafolo of NFL Media reports.

Speed made only $3.274 million on his four-year rookie deal after the Colts made him a fifth-round selection.

He has played 61 games with six starts, becoming a core special teams player. In his career, Speed has seen action on 494 defensive snaps and 1,021 special teams snaps.

He has 110 tackles, a sack, three forced fumbles and three pass breakups in his four seasons.

In 2022, Speed played the most he ever has on defense and made 63 tackles, a sack, two pass breakups and two forced fumbles.

UPDATE 10:57 PM: Garafolo originally reported a one-year deal but later corrected it to a two-year deal.