Schefter: Frank Gore signs with the Colts

Frank Gore plans to sign with the Colts, per source; deal expected to be similar to Philadelphia's offer: 3-years, $12M, $7.5M guaranteed.

Update: This deal is finalized.

Gore reportedly backed out of a deal with Philadelphia. He's turning 32 this summer, but should be able to shore up the Colts' running game. Dan Herron and Vick Ballard are in the mix, and the team could also bring back the still-effective Ahmad Bradshaw. Gore is better than advertised in the passing game, so re-signing Bradshaw may not be necessary. Gore averaged 51.0 receptions from 2006-2010, but as soon as Greg Roman took over as offensive coordinator in 2011, Gore's targets dropped precipitously. He averaged just 28.3 targets over the past four seasons, while the Colts' running backs accounted for 113 targets last season, so look for Gore's value to jump in PPR formats. Due to his age, Gore typically goes later than he should in fantasy drafts, but he hasn't missed a game in three seasons and should be reinvigorated by a change of scenery.