Punter Pat McAfee signed the one-year, $2.977 million franchise tender issued to him last month by the Indianapolis Colts.

The contract is guaranteed. However, the team and McAfee still are able to negotiate a long-term contract that would replace the terms of the franchise tag.

McAfee has emerged as a special teams cornerstone and was voted a co-captain last season.

The 2009 seventh-round draft pick is the Colts’ career leader with a 45.5 gross average. He averaged 48.2 yards per punt in 2012, bettering his previous single-season club record (46.6).