The team was still working on the deal for first-round draft pick, outside linebacker Bjoern Werner. The Colts will have rookie minicamp Friday through Sunday at their practice complex.
The signing of Schmeig came the same day the team announced it had traded backup center A.Q. Shipley to the Baltimore Ravens in exchanged for a conditional draft pick in 2014.
Schmeig played in 45 games at Purdue, making 29 starts. Over his final two seasons, he started all 26 games at center. As a senior in 2012, Schmeig helped block for the offense to record 3,100 passing yards, the team's highest total since 2007. In 2011, he started all 13 games and was part of an offensive line that cleared the way for 11 100-yard rushing performances.