Faulk was traded to the St. Louis Rams the following season. Faulk had missed practices and was considering holding out for a new contract, and Colts president Bill Polian did not want his young team's chemistry damaged (especially with the budding Manning at the quarterback position), so he traded Faulk for second and fifth round picks in the upcoming draft (used to draft LB Mike Peterson and DE Brad Scioli). The Colts moved on at the position, drafting Edgerrin James in the first round. Faulk held out for 12 days as the details of his contract were worked out. On August 4, 1999, Faulk signed a seven-year, $45.2 million contract with the Rams, which was the biggest deal in team history at the time. In it Faulk was guaranteed $9.6 million including a $7-million signing bonus. The problem in negotiations was the proposed fifth year, in which Faulk would get $7 million in salary and a $5-million roster bonus. The deal was structured to prevent Faulk from ever being tagged a transition or franchise player.