The Indianapolis Colts have agreed to trade five-time Pro Bowl cornerback Stephon Gilmore to the Dallas Cowboys.

Indianapolis will receive a fifth-round compensatory draft pick, according to multiple media reports.

The 32-year-old Gilmore will play for his fourth team in four years, joining a secondary that already features Trevon Diggs, whose 14 interceptions over the last two seasons are the most in the NFL.

Gilmore signed a two-year contract with the Colts last year, and unloading him clears an estimated $9million in salary cap room for Indianapolis.

The Cowboys add the 2019 Defensive Player of the Year to a unit that ranked fifth in points allowed per game last season at 20.1.

Reports of the trade came after Dallas announced that starting safety and 2022 leading tackler Donovan Wilson re-signed for three years and $24m.

Gilmore played his first five seasons with the Buffalo Bills before joining the New England Patriots in 2017. The former second-round pick enjoyed his best years with New England, being named to the All-Pro First Team in 2018 and 2019.

He started just three games for the Carolina Panthers in 2021 but had a bounce-back season last year with the Colts. In 2022, Gilmore started 16 games and tallied 66 total tackles, two interceptions and 11 pass breakups.

Gilmore’s 29 career interceptions are tied for the fifth-most among active players.

The Indianapolis Colts grinded out a gritty 12-9 overtime win on the road against the Denver Broncos on Thursday night, with neither team scoring a touchdown in the game.

In an ugly offensive showing, the teams combined for 12 punts, six fumbles and four interceptions, heading into halftime with a 6-3 Broncos lead thanks to a pair of Brandon McManus field goals. 

The Broncos had a chance to run out the clock and ice the game, but instead called a pass play, with quarterback Russell Wilson throwing his second interception of the game to keep the Colts alive.

They would march down the field for a Chase McLaughlin field goal with five seconds remaining in regulation to tie the game at 9-9 and force overtime, and he would kick his fourth field goal of the night in overtime to take the lead.

Needing a field goal to extend the game or a touchdown to win it, the Broncos finally mounted a strong drive with long completions to Melvin Gordon and Jerry Jeudy to move into the redzone. When presented with a fourth-and-one on the five-yard line, they went for it instead of kicking another field goal to tie, and failed to convert a pass into the endzone.

It was a miserable day for both quarterbacks as their offensive lines struggled to keep them upright, with the Broncos sacking Matt Ryan six times while Wilson absorbed four sacks of his own. Ryan finished up completing 26 of 41 passes for 251 yards and two interceptions, while Wilson completed 21 of 39 for 274 yards and two interceptions.

Defensively, Caden Sterns had both interceptions for the Broncos, while teammate Bradley Chubb had two-and-a-half sacks, but Colts cornerback and former Defensive Player of the Year Stephon Gilmore proved to be the game-winner.

Gilmore secured the crucial interception to give the Colts a chance, and was then credited with his second pass break-up on the final play of the game to deny the Broncos the winning touchdown.

Stephon Gilmore is on the move again and this time the former NFL Defensive Player of the Year is joining the Indianapolis Colts.

Cornerback Gilmore will receive a two-year contract worth $23million, of which $14million is guaranteed, ESPN and NFL.com reported on Friday.

It means his stay with the Carolina Panthers has proved short-lived, after he left the New England Patriots to move to Charlotte last October.

Gilmore visited the Colts on Wednesday, with the 31-year-old five-time Pro Bowl star leaving Carolina after playing just eight games for the franchise.

The 10th overall pick in 2012, when he was drafted by the Buffalo Bills, Gilmore moved to New England in March 2017 and helped the Patriots win the Super Bowl in his second season.

Gilmore was crucial in that Super Bowl success, with his interception clinching New England's 13-3 victory over the Los Angeles Rams in Super Bowl LIII, a year after they were beaten in the championship game by the Philadelphia Eagles.

He took Defensive Player of the Year honours in 2019, and after playing 11 games in the following season he moved on to the Panthers.

Sidelined by a torn quad initially, Gilmore was activated in Week 8 and started three of the remaining games as Carolina finished the 2021 season with seven straight losses.