Routt earned a 3-year, $20 million contract in the previous offseason due to his solid play as a cover corner with the Raiders. Routt has struggled with the Chiefs, but would at the very least provide excellent depth for the Colts.
If Routt is picked up from waivers, that team will be responsible for the remainder of Routt's 3 year contract (I believe this would put the Colts over the cap). If Routt clears waivers, he will be able to sign with any team for the veteran minimum. Hopefully Stanford will be in Indy by week's end!