The Colts are working on a one-year contract with kicker Adam Vinatieri and the deal could be done by Thursday, according to an ESPN source.
The news was first reported by WTHR.com.
The 45-year-old Vinatieri is only 58 points shy of passing Morten Andersen for the top spot on the NFL's all-time scoring list.
Vinatieri has scored at least 58 points in every season of his career, except for 2009, when he only played in nine games.
Vinatieri has made 111 of 123 of his field goal attempts over the past four seasons.