Watch Now: AFC South Offseason Storylines: Colts (2:12)

The Indianapolis Colts have finally decided to make a splash in free agency. 

According to ESPN.com, the Colts have agreed to terms on a two-year deal with Justin Houston. The deal with the former Chiefs linebacker is worth a total of $24 million. Although Houston had a decent season in 2018, the Chiefs decided to release him in a cost-cutting move that saved them nearly $15 million in salary cap space

The Colts were a logical landing spot for Houston, and that's because they have plenty of salary cap space. As a matter of fact, the Colts actually went into free agency with the most salary cap room in the NFL. However, instead of handing out big contracts, the Colts spent the first week of free agency re-signing key players like Pierre Desir, Mark Glowinski and Margus Hunt. The Colts also re-signed kicker Adam Vinatieri and safety Clayton Geathers.

Before Thursday, the only other big contract the Colts gave to an outside player went to Devin Funchess, who signed a one-year deal with Indy that's worth $10 million in guaranteed money. 

As for Houston, the 30-year-old could end up being a steal at just $12 million per year. Despite his age, Houston doesn't seem to be slowing down. During the 2018 season, Houston racked up nine sacks, which ranked third on the team. Over the past five seasons, Houston has a tallied a total of 52 sacks, which ranks seventh in the NFL over that span (Von Miller has the most with 63). 

The move to Indy will likely mean a slight position change for the four-time Pro Bowler. With the Colts running a 4-3 defense, Houston will line up at defensive end instead of outside linebacker, according to NFL.com. The Colts' suddenly stout defense also includes 2018 NFL Defensive Rookie of the Year Darius Leonard