updated 7:26 p.m. ET Feb. 19, 2007

INDIANAPOLIS - The Indianapolis Colts made defensive end Dwight Freeney their franchise player on Monday, keeping him with the Super Bowl champions for at least one more season while they work on a long-term contract.

Freeney, a first-round draft pick in 2002, missed the Pro Bowl this year for the first time since his rookie season. He was held to a career-low 5½ sacks while fighting shoulder and leg injuries.

Still, the Colts were not going to let him get away.

“He wasn’t going to go anywhere,” team president Bill Polian said. “There’s no timeline, but we’re still talking (to his agent) with the idea of putting together a longer deal. He’s a key part of our team.”

Freeney would have become an unrestricted free agent March 2 without a new contract. The franchise tag means the Colts could keep him by matching any offer sheet he might sign with another team. If they chose not to match it, the Colts would get the other team’s first-round draft picks in 2007 and 2008 as compensation.

He’s guaranteed $8,644,000, the average salary of the top five defensive ends next season.

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