The next major chip fell in Indianapolis on Wednesday, when former Ravens defensive coordinator Chuck Pagano was hired as the Colts' new head coach. Pagano replaces Jim Caldwell, who was fired Jan. 18 following a 2-14 season.

Pagano, 51, spent only one season as the coordinator in Baltimore, overseeing the NFL's third-ranked defense. He is the latest in a line of former Ravens defensive coordinators to quickly work their way up the ranks to a head-coaching position.

The PFW Spin

There has been no shortage of surprises this offseason from the Colts, who have undergone a thorough housecleaning following one of the worst seasons in franchise history. Former vice chairman Bill Polian and GM Chris Polian were fired on Jan. 2, with new GM Ryan Grigson's hiring announced nine days later. Grigson and owner Jim Irsay dismissed Caldwell exactly one week ago, and members of Caldwell's staff have been given their walking papers over the past week.

Irsay has again shown this offseason that he is not afraid to buck conventional wisdom. Grigson and Pagano are both fresh, young faces who have never held their current job titles before.

Pagano is the fourth Ravens defensive coordinator to earn a head-coaching gig in recent years, joining Marvin Lewis, Mike Nolan and Rex Ryan. Widely viewed as passionate and energetic, Pagano, in a lot of ways, is a major departure from Caldwell, who was very subdued, with an expertise on offense.

Although the Colts have identified a defensive mind as their next leader, it remains to be seen what shape the defense will take. Pagano ran an aggressive 3-4 scheme in Baltimore, led by future Hall of Famers Ray Lewis and Ed Reed, All-Pro DT Haloti Ngata and the Pro Football Weekly/Pro Football Writers of America Defensive Player of the Year, OLB Terrell Suggs. The Colts' current defensive personnel is built around speed and quickness, ideal for former head coach Tony Dungy's Tampa-2 scheme. The personnel, on whole, is undersized, and might not make for a smooth transition in short order. We will find out more in Pagano's introductory press conference on Thursday regarding his intentions in terms of the scheme and types of players the club will target moving forward.

Of course, the biggest question following Pagano's hiring is, what does it mean for the future of QB Peyton Manning? Owed $28 million on March 8 and still not fully recovered from his third neck surgery in 19 months, he could be the next guy on the way out. Manning is incredibly calculated and always speaks with a purpose, and in two seperate interviews this week, he sounded rather disgruntled and perhaps ready for a change of scenery.

But Irsay, who said he will pick up Manning's option if he is healthy, could still roll the dice on the future Hall of Famer who turns 36 before next season.

Regardless of what the Colts decide on Manning, Pagano enters an enviable situation when it comes to the most important position in football. Indianapolis, owner of the top pick in April's draft, is widely expected to select QB Andrew Luck, exactly the kind of player any coach or organization would love to build around.

But because Pagano is a defensive coach, how he assembles his coaching staff — particularly his offensive coordinator and QB coach — will be critical decisions.

Irsay has acknowledged that the Colts have a lot of work to do to get under the salary cap, so the housecleaning could just be getting started. In addition to a decision on Manning, a number of the Colts' highest profile players are unrestricted free agents. That list includes WR Reggie Wayne, RB Joseph Addai, C Jeff Saturday and DE Robert Mathis. Chances are the coaching staff isn't the only aspect of this team that will look vastly different in 2012.

When Irsay dismissed the Polians two days after the season ended, he talked about completely changing the culture of the club. Pagano and Grigson are the two new central figures in reshaping the organization, and they will have their work cut out for them in overhauling the roster and developing a new philosophy and identity moving forward.

The jury likely will be out on this pair for the next several years. But their futures are now tied, and the decisions they make in the near future will go a long way toward deciding the verdict and getting the Colts back to greatness.