The Indianapolis Colts have officially inked running back Seth McGowan to a four-year rookie contract, and the financial details are now in. According to Over the Cap, the deal is worth $4.514 million total, averaging $1.128 million per season. As is common for rookie agreements, McGowan also received a guaranteed signing bonus of $134,908.

Looking at the yearly breakdown, McGowan will earn a base salary of $885,000 in 2026. That figure climbs each season, peaking at $1.280 million in 2029—the final year of his contract. The signing bonus will be prorated across the life of the deal for salary cap purposes, adding a modest $33,727 cap hit each year.

On the field, McGowan is set to compete with DJ Giddens for the Colts' backup running back role. This battle will likely hinge on special teams contributions and pass protection ability—two areas where young backs often make their mark. For fans tracking the Colts' backfield depth, McGowan's rookie deal offers a cost-effective option as the team evaluates its options behind the starter.