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Colts owner Jim Irsay released a statement Wednesday in which he apologized to the fans after the team ended its season "in perhaps the worst way possible and missed our chance to compete for history."

And it seems like at least some of the disappointment surrounds Carson Wentz.

Irsay issued the statement just days after the Colts missed the playoffs for the fifth time in the past seven seasons. This season's disappointment could sting Irsay and the Colts for some time because all they had to do is win one of their final two games to clinch a playoff spot.

AIndianapolis lost at home to the Raiders in Week 17 and then embarrassed themselves by losing at Jacksonville to the Jaguars, who will have the No. 1 pick in the draft in April, in Week 18.

According to ESPN.com's Mike Wells, Irsay met with head coach Frank Reich and general manager Chris Ballard at the team's facility in Indianapolis as soon as they returned from Jacksonville on Sunday night.

"I love his approach and how demanding and holding us all accountable, but also showing support as an owner that he wants to do whatever it takes to get our organization to the top, to get our team to the top," Reich said. "It was a good conversation, a supportive conversation, but also demanding and wanting answers and wanting to hold us accountable."

The collapse came after the Colts rebounded from an 0-3 and 1-4 start to the season to put themselves in position to make the playoffs.

Expectations were high for the Colts this season after they gave up first- and third-round picks to the Philadelphia Eagles for Wentz during the offseason.

Wentz, though, never found his comfort zone this season. He threw for more than 200 yards only twice over the final eight games, which brings into question whether he is the long-term answer at the position.

"We got to be better in the passing game," Reich said. "I would say that anyways, but I just think it was definitely below our standards, and there's multiple reasons for that. We have to take ownership of that as coaches and players."

The question is whether Wentz will be one of the players taking ownership of that in Indy -- or will he do it elsewhere?

A day after the stunning loss to the worst team in the league, Reich declined to commit to Wentz as his starting quarterback in 2022.

Asked specifically if Wentz will be the starting quarterback next season, Reich wouldn't answer.

"We loved the team we had this year, we knew everyone we brought in this year, we expected to play winning football," Reich said, via Joel A. Erickson of the Indianapolis Star. "Next year's roster will be next year's roster. I don't want to open it up about one player and then start talking about all of them."

Ballard added to that on Thursday when he said that while he thought he was making the right move when he acquired Wentz, he can't commit to Wentz remaining in Indianapolis.

"At the time, we felt it was the right decision," Ballard said. "I'm not going to make a comment on who is going to be here next year and who is not."

As Profootballtalk.com reminded readers, that's a very different answer than Reich gave a year ago, when he was asked whether the Colts wanted to keep Philip Rivers. "As I sit here right now, yes, I want Philip Rivers to be my starting quarterback next year," Reich said at the end of last season. Rivers retired, the Colts traded for Wentz, and Reich and Wentz appeared to be joined at the hip.

Although Wentz played better in 2021 than he did in 2020, his final year with the Eagles, he didn't reach the same level he had reached early in his career, when Reich was the Eagles' offensive coordinator.

Wentz is currently slated to have a cap number of $28.3 million for the 2022 season, but the Colts could save $13.3 million in cap space by cutting him, in which case he would have only a dead cap number of $15 million.

The Colts may also explore trading Wentz, although it remains to be seen whether any team would be willing to take him on at this point.

Whatever the case, as PFT's Michael David Smith summed up, "A year after the Eagles decided to move on from Wentz, Ballard sounded like the Colts are ready to do so as well."