A second-round draft pick of Arizona in 1996, McElroy played in 30 games and started 14 in two seasons with the Cardinals. He was waived by Arizona in June 1998, spent nearly two months on Tampa Bay's roster during the preseason and was with Denver this year during the preseason.
A three-year letterman at Texas A&M, McElroy's kickoff return average of 36.3 yards is an NCAA record. He had 1,122 yards rushing as a junior and entered the NFL after foregoing his final year of college eligibility.
The Colts also re-signed running back Scott Greene, who played in three games before being waived on Oct. 13, and put running back Darick Holmes on injured reserve. Holmes injured his ankle during a preseason game against Cincinnati.
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