It was also their seventh under the leadership of general manager Chris Ballard and the first under new head coach Shane Steichen.

Running backs (RB) Wide receivers (WR) Tight ends (TE) Defensive linemen (DL) Defensive backs (DB) Special teams Reserve The Colts opened their 2023 preseason with a 23–19 loss to the Buffalo Bills on August 12, 2023.

Anthony Richardson, the fourth overall selection in the 2023 NFL draft, started the game, completing seven of his 12 passes for 67 yards while being intercepted once.

Three days later, Richardson was named the team's starter for the regular season by first-year head coach Shane Steichen.

With the upset victory over the Ravens, the Colts picked up their second win of the season, improving to 2–1.

By successfully kicking four field goals of a distance of 50 yards or greater (54, 53, 53, 53) in a single game, Matt Gay became the first kicker in NFL history to accomplish the feat.

Quarterback Anthony Richardson suffered a season-ending AC joint injury in this game.