Colts agree to 4-year extension with CB Kenny Moore

The Indianapolis Colts are using their massive amount of cap space to lock down one of their own.

NFL Network Insider Ian Rapoport reported that the Colts and corner Kenny Moore have agreed to terms on a four-year extension, per sources informed of the deal. The team later confirmed the signing. On his new deal, he'll make $30 million in new money from 2021-2023, with a mas value of more than $36 million, Rapoport added, per a source informed.

The contract makes him one of the top-paid slot corner in the NFL in terms of new money, Rapoport added. Justin Coleman held that distinction earlier this offseason, signing a four-year, $36 million contract with $16 million guaranteed with the Detroit Lions.

Moore had one year left on his contract, worth $645,000, then would have been a restricted free agent. The Colts preemptively locked him down. Paying a player when they could have had him under control the next two years for cheap speaks to what the team brass thinks of Moore's play.

An undrafted free agent in 2017 out of Valdosta State, Moore landed with the New England Patriots but couldn't crack the final 53-man roster and was waived during final roster cuts.

The Colts swooped in and claimed Moore the next day. The addition proved big for an Indianapolis team that had struggled to find consistency and health at the corner position. Moore played 16 games as a rookie, starting five, and compiled 38 tackles, five passes defended and one interception. In 2018, Moore became a regular in the slot, earning 77 tackles, 11 passes defended and three INT in 15 starts.

Given the proclivity of three-receiver sets in today's NFL, slot corners are becoming more valuable by the year -- ask Chris Harris Jr. in Denver. After just two seasons with Moore, the Colts identified their future at the position and made sure to lock him down for the foreseeable future.

Colts general manager Chris Ballard said he would use the team's cap space to pay homegrown talent. Extensions like Moore's -- who joins punter Rigoberto Sanchez and long snapper Luke Rhodes in getting new deals -- underscores the point.