Colts awarded extra draft pick

INDIANAPOLIS – Friday was a good day for first-year general manager Chris Ballard and the Indianapolis Colts: They picked up an extra draft pick.

The team was awarded a compensatory fourth-round pick by the NFL, the 144th overall selection. Compensatory picks essentially are granted to teams to make up for losses in free agency the previous year.

In 2016, the Colts said goodbye to tight end Coby Fleener, linebacker Jerrell Freeman and safety Dwight Lowery. On top of signing two key pieces of their own — tight end Dwayne Allen and kicker Adam Vinatieri — the team signed cornerback Patrick Robinson and back-up quarterback Scott Tolzien.

Playing a large role was the five-year, $36 million deal Fleener signed with the Saints.

While a fourth-round pick doesn’t scream future Pro Bowler, this is extremely valuable for a team in desperate need of young talent — especially on the defensive side of the ball. In recent years, the Colts have grabbed several future starters in the fourth round or later, including tackle Joe Haeg, safety Clayton Geathers, nose tackle David Parry and linebacker Antonio Morrison.

There is talent in the later rounds, you just have to find it.

Robert Mathis was a fifth-round pick who recently retired as the Colts' all-time sack leader.

In what is setting up to be a pivotal draft for this franchise — not to mention Ballard’s first as a general manager in the NFL — the Colts will have seven selections, including two in the fourth round. A coin toss at next week’s NFL combine will determine if the Colts or Eagles will select 14th or 15th overall in the first round.

What position group Ballard and his staff look to fill remains to be seen. The Colts' salary cap is currently heavily invested on the offensive side of the ball, where the team’s young nucleus — quarterback Andrew Luck, receiver T.Y. Hilton, left tackle Anthony Castonzo and Allen — reside. The defense, on the other hand, requires a massive makeover. There are needs all over the unit that finished 30th in the league in points allowed in 2016.

The team will tackle free agency shortly after the combine wraps up next weekend. Among the notable free agents the Colts will have to decide whether to keep or not: linebacker Erik Walden, tight end Jack Doyle, cornerback Darius Butler, safety Mike Adams and running back Robert Turbin.

After hiring Ballard in January, owner Jim Irsay stressed the team’s desire to build through the draft, rather than free agency. Friday’s news certainly doesn’t hurt.

Colts position review: Big changes in store for secondary?

Colts position review: Clayton Geathers on the move?

AFC South offseason advice: Should Colts, Texans make big moves?

Call IndyStar reporter Zak Keefer at (317) 444-6134. Follow him on Twitter: @zkeefer.