Since Chris Ballard has come to Indianapolis he has preached “keeping your own.” Drafting players and re-signing them to a second contract. Ballard has backed up his words on that since taking over in 2017.
Ballard has given contract extensions to players during the offseason even when they were still under contract for the next season.
Last offseason, Ballard extended Kenny Moore and Luke Rhodes, and before the 2019 season, Ballard extended Jacoby Brissett’s rookie deal.
Extending current players on the roster aren’t the biggest concern going into 2019 but don’t be surprised if Ballard tries to get ahead of the market and extend his own.
With all that in mind, the Colts have some key players that could be in line for an extension this offseason. Here are some of those players:

WR T.Y. Hilton
The 30-year-old wide receiver will be a free agent in 2021 and unless the Colts address the receiver position this offseason, Hilton will be the only real threat for the offense in the passing game.
2019 was a season to forget for Hilton—career-lows in receptions, yards, and yards per reception. And while Hilton did miss six games with various injuries throughout the year, there should be no hesitancy to extend Hilton.
Hilton is currently the ninth highest-paid receiver in the NFL but with him turning 31 when the contract expires, the Colts could look to sign him in the range of three to four years, and $50 million. Tyreek Hill signed an extension last offseason for three years and $54 million.

LB Anthony Walker Jr.
Probably the most overlooked player on the Colts’ entire roster, Walker Jr. is coming into the final year of his rookie deal.
A former fourth-round pick, Walker has started in all but two games for the Colts at the MIKE linebacker spot since taking over the job in 2018. Walker led the team in tackles this season and was second in 2018.
If the Colts want to give Walker top-10 money at his position the contract would be around three to four years, and around $30-40 million. Bobby Wagner of the Seahawks just signed an extension last offseason for three years and $54 million, which makes him the 7th-highest paid linebacker in the NFL.
The duo of Walker and Darius Leonard appears to be working well since they began playing together in 2018.

RB Marlon Mack
If there is to be an early extension, Mack seems to be the most likely to happen this offseason. Mack is also in the final year of his rookie contract, and because he wasn’t a first-round pick, he isn’t eligible for the fifth-year team option.
Mack took over as the full-time starter in 2018 and has produced two solid seasons when he’s been on the field. 2018 in 10 starts, he had 908 rushing yards and nine touchdowns and while the rushing touchdowns went down a bit in 2019, he eclipsed the 1,000-yard mark with 1,091.
Running backs deteriorate fast in the NFL, but Mack wasn’t exposed much to a lot of carries until last season. If the Colts want to extend Mack to a contract around top-10 at his position the contract would look in the range of four years and $30 million. Jerrick McKinnon signed a second contract with the 49ers in 2018 for four years and $30 million.

OL Ryan Kelly
A former first-round pick back in 2016, Kelly could be in line for an extension this offseason. With Kelly being a first-round pick, he’s eligible for the fifth-year team option. But the Colts could get an extension done before his final season in 2020.
Even with the Colts picking up his fifth-year option for the 2020 season and with Kelly playing in all 16 games last season, Ballard could look to extend Kelly before another Center resets the market.
Ballard believes Kelly is a top-10 center in the NFL and if they want to extend him as such, the contract would be around three years and $30 million. J.C. Tretter signed with the Browns last year at the age of 28, same age as Kelly when his contract is up in 2021, for three years and $32.5 million.
Kelly was also named as a Pro Bowl replacement, which certainly helps his case for an extension.