Dungy presser at 4:30 p.m.

The Colts have called a 4:30 p.m. news conference about their head coaching position. In attendance will be head coach Tony Dungy, who has been mulling retirement, team owner Jim Irsay, team president Bill Polian, and assistant head coach Jim Caldwell will be in attendance.

Not sure what that means, although if Dungy were simply coming back, we wonder if there'd be such a big deal about it. He'll either step down and the Colts will immediately name Caldwell his replacement. Or Dungy will announce that he's coming back in 2008 and that Caldwell will take over once he's through coaching.

UPDATE: The NFL Network is reporting that Dungy will return for the 2008 season. Details to follow.

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