2024 Colts Cap

[sherck]

Originally Posted by ukcolt

With a lot of the re-signings having taken place etc, where are we at with the Cap space now? Do we have enough money to actually sign Blackmon and Sneed without restructuring existing contracts?

No.

I don't have my spreadsheet in front of me (away from home on a business trip) but my back of the napkin math is:

$251.560m = Top 51 salary cap hits
$001.600m = Spots 52 + 53
$008.422m = Dead Money
$004.000m = Rookie Pool (The real rookie pool is around $9.113m but some of that will offset players already counted for the 51/53 so I am estimating a "new" cap hit of around $4m)
$006.134m = 16 player practice squad
$005.000m = In-season churn space
=========
$276.716m = Colts 2024 In-Season Cap Obligations

$260.740m = Colts 2024 adjusted salary cap

So, as you can see, the Colts are actually "over" the in-season cap but not the off-season cap because they don't have to count spots 52 and 53, rookies, practice squad or churn space in the off-season.

Ballard is going to have to "trim" some money by replacing higher paid folks with lower paid rookies (probable), restructuring contracts or cutting a vet or two.

Mo Allie Cox saves $5.920m from the cap if cut and is about the only "non-stud" veteran who moves the needle much. Sure, DeFo delivers $20m cap savings if cut, Braden Smith delivers $10.8m and Ryan Kelly $12.4m but I don't think we are cutting any of those guys to make space.

Anyway, long story short, no, I don't think we are signing any other veterans.