According to the IndyStar’s Jim Ayello, the Indianapolis Colts have issued a second round tender on restricted free agent wideout Zach Pascal:
Colts WR Zach Pascal has received a second round tender from the Colts, per a source.
— Jim Ayello (@jimayello) March 16, 2021
This means that the Colts will have the opportunity to match any offer that Pascal may receive elsewhere, and if Indianapolis elected not to match (in such a scenario), the franchise would receive a second round pick as draft compensation.