Nobody signs an undrafted free agent with the expectation that the player will immediately play a big role for the team, but the Indianapolis Colts are in this kind of a situation with running back Josh Ferguson.

Coming out of Illinois, Josh Ferguson looked like one of the best pass-catching backs in the draft class, and this led to him being praised as a potential late-round sleeper. Instead, Ferguson never heard his name called during the draft’s three days, but it didn’t take long for the Indianapolis Colts to scoop him up.

Since then, Ferguson has been a popular name in the press, and the most recent praise he picked up came straight from the top of the organization.

According to Colts official site beat writer Kevin Bowen, owner Jim Irsay had this to say about the 23-year-old:

“We do like some of the backs we’ve added. We think guys like Josh Ferguson have a chance to be special, time will tell. But we really like where we’re going.”

The type of praise Ferguson has received from the Colts is uncommon, bordering unbelievable, for an undrafted free agent, but, as we’ve come to learn, that’s not necessarily the grade they slapped on him.

Earlier this month, the Indianapolis Star’s Stephen Holder reported that the team thought about drafting him as early as in the fourth round but wisely opted for bigger needs.

I say “wisely” for two reasons. Firstly, the Colts made mistakes in the past of ignoring key needs in favor of skill position players, and this strategy backfired hard last season; Andrew Luck‘s injury had a way of uncovering every blemish and magnifying them.

The Colts got their guy in undrafted free agency anyway, and the organization’s willingness to spend time giving him good publicity is unsurprising. Judging by the other names on the depth chart, Ferguson is easily the best third-down back on the roster, and a real pass-catching threat out of the backfield is something Luck could use; the Colts can’t just attack vertically or use the wide receivers all game long.

Dwayne Allen was re-signed, but Coby Fleener‘s departure means that another safety valve is even more helpful. Donte Moncrief stands to benefit the most from the targets left over, but having Ferguson as a shifty dump-off option in the passing game will be key.

It’s always wise to be weary whenever a team pumps up an undrafted rookie like this, but the opportunity is indeed there for the taking. I believe in Frank Gore as a 1,000-yard back, but somebody needs to spell the aging veteran, particularly in the passing game.

Jordan Todman, Trey Williams, and Robert Turbin lurk on the roster, but I buy the idea that Ferguson is already a better, more explosive option than those guys. His agility jumped out on college film, and we’ve heard repeatedly throughout the offseason from reporters- not just the people in the building- that Ferguson is a man to watch.

For as much as his pass-catching chops are praised, Ferguson’s capable rushing gets ignored a bit, but that sells his consistency short. He averaged 5.5, 5.0, and 5.5 yards per carry in his final three college football seasons with 18 rushing touchdowns in those years and over 700 rushing yards in each season. Ferguson also caught 50 passes in both his sophomore and junior years, lending further credence to the argument that he can run routes at the NFL level.