From the way things look right now, the Indianapolis Colts will have the first and last draft selections in 2012 NFL Draft. Today, at the 2012 NFL Owners Meeting in Florida, the Colts were awarded three compensatory draft picks:
5th Round, 170th overall
6th Round, 206th overall
7th Round, 253rd overall
Of course, what this means is that your truly will have to attend the 2012 NFL Draft and stay there from pick one aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaall the way to the final draft selection, pick 253.
Oh boy. It's going to be oh so much fun sitting there in the 7th round, when everyone else is finished and done.
To be somewhat serious here, getting these extra picks will help infuse the roster with more talent. Keep in mind, these picks are awarded for players who were not re-signed and, subsequently, joined other teams as free agents. 2012 comp picks were for players who left in 2011. Players like Clint Session and Charlie Johnson.
Thus, none of these picks are for players like Pierre Garcon, Jacob Tamme, or Jeff Saturday.
Oh, and the Colts will receive no comp picks for Peyton Manning. He was released. Players released or cut while still under contract provide no compensation, in the form of draft picks, to the club.