In Pagano's first season as defensive coordinator, the Ravens finished third in the NFL in scoring defense and third in yards allowed. The Ravens were fourth in rushing defense and second in pass defense. And in Sunday's AFC championship game loss to the New England Patriots, the Ravens forced Patriots quarterback Tom Brady into two interceptions. Brady had a 57.6 passer rating.
Pagano, who was promoted from secondary coach to defensive coordinator when Greg Mattison left for Michigan after the 2010 season, is a fiery coach who is well-liked by his players.
The Colts fired head coach Jim Caldwell earlier this month after a 2-14 season.
According to reports, the Colts have interviewed or are interested in Tennessee Titans defensive coordinator Jerry Gray, New Orleans Saints offensive coordinator Pete Carmichael Jr. and former Ohio State University head coach Jim Tressel. They are also rumored to be interested in Cincinnati Bengals defensive coordinator Mike Zimmer and former Minnesota Vikings head coach Brad Childress.