INDIANAPOLIS – One of the first meaningful player transactions Chris Ballard executed after taking over as general manager of the Indianapolis Colts was a trade.

Ballard stunned the NFL in March, sending tight end Dwayne Allen packing to the New England Patriots just one year into Allen’s four-year, $29 million contract.

Since then, it’s become clearer that Ballard embraces trades. He’s already pulled the trigger on three during his nine months on the job, two of those involving major pieces of the roster.

So, with Tuesday’s 4 p.m. NFL trade deadline fast approaching, there’s every reason to think Ballard could be on the look out for his next deal, and there are prospective trades out there that could make sense.

After trading away Allen and receiver Phillip Dorsett in recent months, Ballard might now consider the merits of trading any of the remaining Colts on a roster he continues to reshape in a major way.

Remember, this is the guy who said in September after finalizing his roster – with a nearly 50 percent turnover rate from 2016 – that “a lot of change was needed. And there will be more change.”

With 2018 already firmly in his gaze, Ballard isn’t about to change his approach now, halfway through a season where the Colts find themselves four games under .500.

Though an NFL source this weekend expressed doubt about the Colts making any deals, there has been buzz about the possible movement of Pro Bowl cornerback Vontae Davis.

With his contract expiring at the end of the season, and with young corners such as Quincy Wilson and Nate Hairston waiting in the wings, the Colts would seem willing to part with the 29-year old Davis.

Davis has struggled to regain his usual level of performance after suffering a groin injury in the preseason that kept him out for several weeks. But he might prove an upgrade for a contending team lacking depth or talent at corner.

“I don’t care too much about that," Davis said when asked about trade talk. "I don’t make those decisions. This is the NFL. I’ve been in that situation before and you don’t know what to expect.”

ESPN on Sunday reported that at least two teams have talked to the Colts about a possible deal involving Davis.

But a factor that might make dealing for Davis prohibitive for many teams is his remaining salary. Any team that acquires him via trade would be responsible for paying the remaining $4.5 million on his contract for 2017. That's $4.5 million for eight games. There are very few teams that could justify that kind of expense for a player who would become a free agent after this season.

Another player to be mindful of as the deadline approaches is veteran running back Frank Gore. If the opportunity arises to send Gore to a contending team, he'd likely be receptive to the idea. Retirement is on the table after this season, the final year of his three-year contract, and Gore has not won the championship he was seeking when he signed with Indianapolis.

With only eight games remaining on his contract that pays a base salary of $3.5 million, a suitor would be on the hook for $1.75 million for the second half of the season if Gore was acquired.

"I’m here with the Colts and whatever happens, I can’t control," Gore said Monday. "I’m a Colt. I’m going to fight til the end."

At least two teams have discussed the possibility of dealing for Gore, according to a league source, though a deal is far from a sure thing.

The idea of trading Pro Bowl receiver T.Y. Hilton has been speculated on, but that is a deal the Colts would seem reluctant to make. They are a team whose offense is surprisingly devoid of playmakers right now. With Gore likely done in Indianapolis after this season, and with Donte Moncrief no sure thing to be re-signed when he becomes a free agent in March, the Colts already have work to do when it comes to retooling their offensive skill positions.

When asked about his name popping up in trade rumors after Sunday's loss, Hilton replied, “Is that a question?” and walked off. That seemed to put to rest any notion that he isn’t committed to this football team.

Hilton is signed through 2020 and is the team’s most dangerous playmaker outside of injured quarterback Andrew Luck. If the Colts were in an unfavorable financial position, they might be more motivated to make a deal. But with more than $70 million in projected salary-cap space in 2018, the Colts have all the flexibility they need.

Short of a deal that lands the Colts a huge haul of draft picks, trading Hilton seems a suspect move.

Find IndyStar Colts Insider Stephen Holder on Twitter: @HolderStephen.

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