Insider: 5 free agents for the Colts to look into following roster cuts

The Colts are in the process of paring down their roster from 81 players to 53. All 31 other teams are doing the same, meaning hundreds of players are about to flood the waiver wire and free-agent market.

The ones with fewer than four accrued seasons will go on waivers, meaning they can be claimed through the waiver process. Those with more than four seasons are eligible to sign with any team at any time.

Colts general manager Chris Ballard prides himself on year-round player acquisition, and this time of the year is critical to that theory. With some depth questions still to answer, this might be his time to stay aggressive.

Here are five names to watch:

O.J. Howard, tight end

This spring, when the Colts were looking for a veteran tight end following Jack Doyle's retirement, they didn't have a quarterback in place to throw any newcomers the ball, so free agents went elsewhere. O.J. Howard was one of those, signing to play with the Bills and Josh Allen.

The Bills released Howard on Wednesday, a shock given his $3.2 million in guarantees. That decision will raise some alarm bells, and Howard is looking for his third team after becoming a first-round pick of the Buccaneers in 2017. But his track record as a blocker is excellent, and he was a productive receiver before Rob Gronkowski arrived in Tampa Bay, averaging 485 yards and four touchdowns in his first three seasons. That receiving total would have ranked second on the Colts last season.

MORE: Tracking Colts moves as they cut roster to 53 players

Indianapolis re-signed Mo Alie-Cox to take the lead tight end role, but a need grew when sixth-round rookie Drew Ogletree suffered a torn ACL in training camp. Second-round rookie Jelani Woods has had an up-and-down first camp. If Howard checks out on a personal level, he could be an instant upgrade for a run-heavy offense and another mid-level target for Matt Ryan.

Howard is available to sign with any team immediately.

Tyler Johnson, wide receiver

The Colts have had wide receiver questions since last season, when they were the only NFL team with just one player with more than 395 receiving yards. Those questions have not settled in training camp, where Michael Pittman Jr. has been the only consistent threat.

Tyler Johnson is 24 years old, like most of their young receiving corps, but he comes with more than 600 career yards between the regular season and postseason and also won a Super Bowl with the Buccaneers. A fifth-round pick out of Minnesota in 2020, Johnson is considered a big vertical slot receiver at 6-foot-1 and 206 pounds.

"Contested-catch warrior who plays the game like a big brother imposing his will on his younger brothers on the playground," NFL.com's Lance Zierlein wrote in his pre-draft scouting report.

The Colts like the idea of the big slot at times, as they've used Pittman Jr. and Kylen Granson there. Parris Campbell will be the starting slot receiver but does not have a durable history. The Colts could see Johnson as an upgrade to Dezmon Patmon or Michael Strachan, who also don't offer much on special teams currently.

Johnson can be claimed through the waiver process.

Lynn Bowden, wide receiver

Another draft pick at wide receiver has hit the waiver wire. Lynn Bowden was a third-round selection out of Kentucky in 2020 by Las Vegas, seen then as a chess piece for a creative offensive mind after he starred as a return man, running back, receiver and quarterback in college. He totaled more than 2,000 all-purpose yards as a First-Team All-American in his final college season, playing in the Southeastern Conference. He was traded prior to his rookie season and it didn't come together in Miami, where he caught 28 passes for 211 yards and no scores as a rookie and then missed his second season with a hamstring injury. He was behind again this spring with another hamstring injury.

Health is the obvious question here, but the 5-foot-11, 204-pound Bowden brings a skill set the Colts could like as they move into weekly game planning. Bowden's background inspires some hope for jet sweeps and designed quarterback runs and could become a neat wrinkle with Jonathan Taylor and Nyheim Hines.

Bowden can be claimed through the waiver process.

Taylor Stallworth, defensive tackle

Quite a few former Colts players were released Tuesday, but one in particular should catch their eye. An undrafted journeyman, Taylor Stallworth enjoyed his best of four seasons with the Colts last year, when he recorded three sacks while playing 33% of defensive snaps as a rotational interior player. The scheme has changed in Indianapolis to one more built on attacking and athleticism up front than run defense, and so the 6-foot-2, 300-pound Stallworth moved on to the Chiefs.

But the need has grown at his former position in Indianapolis. The Colts drafted Eric Johnson and Curtis Brooks on Day 3, but neither looks ready for much of a game day role. The second-team defensive line has been eaten up in run defense this preseason, and it could be worthwhile to ensure more ready depth behind DeForest Buckner and Grover Stewart. Indianapolis has the space after letting R.J. McIntosh go.

Stallworth is available to sign with any team immediately.

Michael Schofield, offensive lineman

The Colts prided themselves on their offensive line depth last season, but that area has looked like a question mark so far in training camp. It's the natural attrition of two backups becoming starters with Matt Pryor at left tackle and Danny Pinter at right guard. What the Colts miss as much as their quality as backups is their versatility, as Pryor could play four positions and Pinter could moonlight at center in addition to guard.

That type of player isn't currently on the Colts roster now. They had signed Dennis Kelly to be the swing tackle, but he was among Tuesday's roster cuts after missing most of training camp with a knee injury.

So the need has formed for a player like Michael Schofield, whom the Bears just released. At 31 years old, he brings 102 career games with 81 starts split between guard and tackle. That inside-outside versatility becomes more important on a team that's trying to carry three quarterbacks.

Schofield is available to sign with any team immediately.

Contact Colts insider Nate Atkins at natkins@indystar.com. Follow him on Twitter @NateAtkins_.

This article originally appeared on Indianapolis Star: Colts: 5 free agents to look into following roster cuts