Per Caplan, Hoyer agreed to a three-year, $12 million contract that includes $9 million in guarantees.
Hoyer will play as the backup to starting quarterback Jacoby Brissett and gives the Colts some experience in the wake of Andrew Luck’s sudden retirement. It remains to be seen what the team plans to do with Chad Kelly following his two-game suspension.
The New England Patriots wanted to bring Hoyer back but they were only willing to do so under a one-year deal, per Jeff Howe.
Hoyer, who will turn 34 years old next month, has started games for the 49ers, Bears, Browns and Texans. He’s started 37 NFL games to date.