Green Bay Packers Trade Colby Wooden for Zaire Franklin — Colts Complete Player-for-Player Swap

The Green Bay Packers and Indianapolis Colts just pulled off one of the most significant pre-free-agency trades of the 2026 NFL offseason, swapping defensive tackle Colby Wooden for linebacker Zaire Franklin in a straight player-for-player deal. No draft picks were exchanged.

Packers Trade Details: Zaire Franklin for Colby Wooden

The Packers and Colts agreed to trade Green Bay defensive tackle Colby Wooden for Indianapolis linebacker Zaire Franklin in a straight player-for-player deal. No picks were needed to facilitate the swap, which results in both teams filling a clear position of need.

Franklin, 29, has two years left on a three-year, $31.26 million contract extension he signed with the Colts. That deal contains no more guaranteed money. He carries a base salary of $6.24 million for 2026 along with roster bonuses that could bring his total 2026 pay to $7.005 million, followed by up to $9.005 million in 2027 if his contract is not renegotiated.

Why the Packers Made This Move

Faced with the possibility of losing leading tackler Quay Walker in free agency, the Packers moved to fill the linebacker hole immediately. Franklin is expected to step directly into Walker's starting role alongside second-year linebacker Edgerrin Cooper.

Green Bay is transitioning to a 3-4 defense under new defensive coordinator Jonathan Gannon, who was hired after Jeff Hafley left to become the Dolphins head coach. Needing a starting linebacker means Cooper will likely remain in the Will role, with Franklin stepping in as the Mike. It is also the first major defensive addition of the Gannon era.

Walker is now expected to hit free agency with a strong market around him, projected at roughly $14 million per year. Green Bay could receive a fourth-round compensatory pick as a result of losing him without signing an offsetting free agent.

Why the Colts Moved On From Zaire Franklin

The Colts were $4 million under the salary cap before the trade and needed to get cap-compliant ahead of the new league year opening next week. By trading Franklin, Indianapolis freed up roughly $5 million in cap space, pushing them above the threshold.

Colts general manager Chris Ballard said after last season that part of the team's offseason priorities would be to get "younger and faster" on defense. Franklin, who plays best running downhill as a traditional inside linebacker, did not fit the new direction of the Colts' defense.

The Risk Factor: Franklin Coming Off Worst NFL Season

Franklin will be 30 by Week 1 and is coming off his worst NFL season by PFF grades, earning just a 38.4 in 2025 — ranking him 87th out of 88 qualifying linebackers. He led the NFL in tackles in 2024 and earned Pro Bowl and Second-Team All-Pro honors, but last season's drop-off is a legitimate concern for Green Bay to monitor.

The player-for-player trade is likely the first step in a multi-faceted plan to rearrange the Packers' defensive front. Losing Wooden — who played 52% of defensive snaps in 2025 as the team's best run defender — now makes nose tackle the clear top priority heading into the draft. Green Bay is expected to be active in searching for Wooden's replacement.

Zaire Franklin: Career at a Glance