Jim Irsay announced the deal, but he only used one exclamation point, so maybe he's not that excited? It's not a cheap deal, checking in at four years and $39 million with a reported $20 million guaranteed.
Davis was acquired in Ryan Grigson's first offseason with the Colts, when he traded a second-round pick to the Dolphins in exchange for the corner. It would've been disappointing to see them let him walk after just two years.
Instead the Colts locked him down on a massive contract and kept their secondary from really falling apart. Indy could still use some more help and depth in the defensive backfield but keeping Davis is big, even if the price tag is high.