Free agency begins March 14 but because Davis was released in November, he can sign before the league year officially starts.
The Colts released Davis on Nov. 9 when he sought additional opinions and opted for season-ending surgery groin surgery. Davis dealt with a lingering groin injury throughout last season after getting hurt in preseason and the Colts attempted to deal the 29-year-old during the season before the trade deadline.
Indianapolis cut Davis five days after saying he was not making the trip with the team for a Week 9 game against the Houston Texans. The Colts said the decision was not injury-related.
Before getting cut, Davis said he was disrespected when the team left him behind and said his decline in play was caused by the groin injury that caused him to miss the first three weeks of the regular season and limited him to five games.
In 120 career games totaling nine seasons with the Miami Dolphins and Indianapolis Colts, he recorded 395 tackles, 22 interceptions and 106 passes defended. The Colts acquired him from Miami on Aug. 26, 2012, for a second-round pick and he signed a four-year extension with Indianapolis on March 11, 2014.
Davis was named to his first career Pro Bowl in 2014 when he led the league in lowest opposing passer rating (38.8). He was named to his second career Pro Bowl in 2015 after recording 48 tackles, four interceptions and 16 passes defensed.