Update:

Tony Pauline of DraftInsider.net, citing league insiders, reports that New York Jets are “going hard” after free agent CB Vontae Davis.

Pro Football Talk reported a few hours ago that Davis is expected to sign a contract on Tuesday with a team other than the Indianapolis Colts.

Pro Football Talk added that it’s still “not over” with the Colts yet.

The Colts sent the Dolphins a second-round pick in return for Davis who has stepped in and filled an important role for their defense. Replacing him in the free agent market would likely end up being very costly, so there is a large incentive in place for Indianapolis to get an extension worked out with Davis in the coming days.

Davis, 25, was clearly the Colts best defensive back this season and was rated as the No. 3 cornerback by Pro Football Focus. In 2013, he produced, 46 tackles, one interception and 12 pass defenses.

We have Davis listed as the No. 8 player in our Top 50 Free Agents list.

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Based on what Stephen Holder is hearing, he “isn’t prepared to say any deal with Vontae Davis is imminent or even close at this moment.”

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Jason La Canfora reports that the Indianapolis Colts are “nearing” an agreement with free agent CB Vontae Davis.

La Canfora adds the “expectation” is that a deal will get done by Monday.

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Stephen Holder of the Indianapolis Star reports that the Colts and free agent CB Vontae Davis are “relatively far apart” in contract negotiations.

Holder adds that no deal is imminent at this point in time.

Holder previously mentioned that re-signing Davis is the Colts’ top priority this offseason.

According to Holder, Davis is looking for a better contract than the one recently signed by Dolphins CB Brent Grimes‘ four-year, $32 million contract. ( Update )

Davis can begin meeting with prospective teams as early as tomorrow, so the window for the Colts to get him under contract is closing quickly.