No contract restructure has been worked out to reduce his hefty salary-cap figure, but Freeney is in the Colts' plans.
"We haven't gotten into any of those specifics yet," Colts general manager Ryan Grigson said today during a conference call. "We're happy Dwight is here and we're happy he's going to be on the team this year and rushing the quarterback and making plays for us like the great player he is."
And Grigson was dismissive of trade rumors surrounding the former Pro Bowl pass rusher.
"There is a lot of speculation as I'm learning this thing," Grigson said. "It's pretty rampant and there are a lot of rumors. There are a lot of rumors that fly, but there's never been any substance that would suggest we're doing anything like that. He's a Colt, period."
For more coverage of the NFL, go to profootball.scout.com.
Follow me on Twitter: @RavensInsider
Colts keeping Freeney despite high cap hit
Scout NFL Network Top Stories
Peterson: Physicality trumps elusivenessArizona Cardinals' cornerback Patrick Peterson said Seahawks' quarterback Russell Wilson has become more of a pocket passer this season.
Watch: Packers-Bears HighlightsGet a second look at some of the best moments of Thursday night's victory by the Green Bay Packers over the Chicago Bears.
Packer Report12:06 AM
Short and SweetAfter a miserable first half and a sack/strip/touchdown to open the second half, Aaron Rodgers and Co. roared to life to send the Packers past the Bears.
Packer ReportYesterday at 7:05 PM
Steelers Notebook: Do. Your. Job.Script for Landry, and when Gronk was 'more funner', plus updates on Shazier, Green, Gilbert.
Steel City InsiderYesterday at 6:28 PM
Marshall and Richardson Locker Room DisputeBrandon Marshall and Sheldon Richardson got into a heated argument after the Kansas City loss.
Jets InsiderYesterday at 4:14 PM