Colts Cap - 25 March 2022

[Ironshaft]

After the Colts restructured Matt Ryan's contract converting $12m of 2022 salary in signing bonus, it spread the hit over 2022 and 2023 saving $6m in 2022 cap space giving the Colts $22.044m free cap space.

However,

$6.813m = Colts 2022 draft class
$1.410m = Spots #52 and #53 on the in season roster
$1.955m = 10 spot practice squad ($11,500 per week x 10 players x 17 weeks)
$3.500m = Estimated amount of "churn" space needed to sign 5 street free agents during the season due to player injury.
=======
$13.678m

$8.366m free 2022 cap space to sign new free agents. Not a lot.

Top 2022 Cap Hits for the Colts:
$18.705m = QB Matt Ryan (already restructured)
$16.000m = DT DeForest Buckner
$13.754m = OG Quenton Nelson (5th year option from rookie contract)
$13.000m = DE Yannick Ngakoue
$11.567m = OT Braden Smith
$11.166m = LB Darius Leonard
$10.625m = DT Grover Stewart
$09.750m = OC Ryan Kelly
$06.750m = CB Kenny Moore
$06.320m = TE Mo Alie-Cox
$05.545m = OT Matt Pryor
$05.140m = RB Nyheim Hines

That is everyone above $5m for 2022 and there is no one there that I see who is not a young contributor to the team (other than Ryan on the young part). No easy "just cut him and free cap" decisions there.

About the only guy I could point at as "overpaid" is Grover Stewart but I think that also underestimates his contributions to stopping the run game. He is a baller who I don't know we could replace well. Regardless, his dead money exceeds his 2022 cap hit so cutting him saves nothing.

Braden Smith and Darius Leonard are not good candidates for restructure because they already have $30m or more in "dead" money on their contract. Ryan Kelly is also not a great candidate as his dead money exceeds his 2022 cap hit as well.

As such, there are only a couple of choices:

A. Convert DeForest Buckner's 2022 salary into bonus like they did with Ryan and spread it over all three of his remaining years of his contract (2022/2023/2024). This could save $10.667m off the 2022 cap and push $5.333m into each 2023 and 2024.

B. Go ahead and sign Quenton Nelson to a long term contract. It could be structured to lessen Nelson's 2022 cap hit down to probably as low as, say, $3m saving upwards of $10m in 2022 cap by pushing it down the road.

C. Extend Yannick Ngakoue's contract. We pretty much know this is going to happen as he is has the perfect set of skills for a Gus Bradley defense. Like with Nelson, you could structure it however you wanted but you could push his cap hit down to around $3m freeing upwards of $10m of 2022 cap.

I would feel pretty good about any of these moves (much more better about A and B. Lesser about C but still good) as all three guys, I think, are going to be cornerstones of the franchise over the next 4+ years. I don't think we are going to be unhappy pushing money forward for any of these guys.

So, if desired, the Colts could free up an additional $30m of 2022 cap space by pushing it forward into the future. I feel good about doing so because we have lots of future free cap space:

2023 = $070.804m
2024 = $130.244m (only 13 under contract for 2024 + 3 rookie classes)
2025 = $195.500m (only Leonard, Smith and Paye are currently contracted for 2025 + 4 rookie classes)

If there are guys that Ballard and Reich want, cap space should not be the issue.

If we are indeed, "all in."

[Lov2fish]

After the Colts restructured Matt Ryan's contract converting $12m of 2022 salary in signing bonus, it spread the hit over 2022 and 2023 saving $6m in 2022 cap space giving the Colts $22.044m free cap space.

However,

$6.813m = Colts 2022 draft class
$1.410m = Spots #52 and #53 on the in season roster
$1.955m = 10 spot practice squad ($11,500 per week x 10 players x 17 weeks)
$3.500m = Estimated amount of "churn" space needed to sign 5 street free agents during the season due to player injury.
=======
$13.678m

$8.366m free 2022 cap space to sign new free agents. Not a lot.

Top 2022 Cap Hits for the Colts:
$18.705m = QB Matt Ryan (already restructured)
$16.000m = DT DeForest Buckner
$13.754m = OG Quenton Nelson (5th year option from rookie contract)
$13.000m = DE Yannick Ngakoue
$11.567m = OT Braden Smith
$11.166m = LB Darius Leonard
$10.625m = DT Grover Stewart
$09.750m = OC Ryan Kelly
$06.750m = CB Kenny Moore
$06.320m = TE Mo Alie-Cox
$05.545m = OT Matt Pryor
$05.140m = RB Nyheim Hines

That is everyone above $5m for 2022 and there is no one there that I see who is not a young contributor to the team (other than Ryan on the young part). No easy "just cut him and free cap" decisions there.

About the only guy I could point at as "overpaid" is Grover Stewart but I think that also underestimates his contributions to stopping the run game. He is a baller who I don't know we could replace well. Regardless, his dead money exceeds his 2022 cap hit so cutting him saves nothing.

Braden Smith and Darius Leonard are not good candidates for restructure because they already have $30m or more in "dead" money on their contract. Ryan Kelly is also not a great candidate as his dead money exceeds his 2022 cap hit as well.

As such, there are only a couple of choices:

A. Convert DeForest Buckner's 2022 salary into bonus like they did with Ryan and spread it over all three of his remaining years of his contract (2022/2023/2024). This could save $10.667m off the 2022 cap and push $5.333m into each 2023 and 2024.

B. Go ahead and sign Quenton Nelson to a long term contract. It could be structured to lessen Nelson's 2022 cap hit down to probably as low as, say, $3m saving upwards of $10m in 2022 cap by pushing it down the road.

C. Extend Yannick Ngakoue's contract. We pretty much know this is going to happen as he is has the perfect set of skills for a Gus Bradley defense. Like with Nelson, you could structure it however you wanted but you could push his cap hit down to around $3m freeing upwards of $10m of 2022 cap.

I would feel pretty good about any of these moves (much more better about A and B. Lesser about C but still good) as all three guys, I think, are going to be cornerstones of the franchise over the next 4+ years. I don't think we are going to be unhappy pushing money forward for any of these guys.

So, if desired, the Colts could free up an additional $30m of 2022 cap space by pushing it forward into the future. I feel good about doing so because we have lots of future free cap space:

2023 = $070.804m
2024 = $130.244m (only 13 under contract for 2024 + 3 rookie classes)
2025 = $195.500m (only Leonard, Smith and Paye are currently contracted for 2025 + 4 rookie classes)

If there are guys that Ballard and Reich want, cap space should not be the issue.

If we are indeed, "all in."

That is an awesome summarization of the cap and how to free more. I miss Sherk, but you're no slouch!

[Ironshaft]

That is an awesome summarization of the cap and how to free more. I miss Sherk, but you're no slouch!
Well, to come clean. I am Sherck.

I needed a break from the internet and social media a couple of years ago and took a complete break for 4 months. Mental health is not just a made up thing.

Once I wanted to get back on, I felt the need to come back to a lot of sites as someone new. So I picked up an alt login I had used back in the day and here we are.

So, Ironshaft = Sherck.

[Lov2fish]

Well, to come clean. I am Sherck.

I needed a break from the internet and social media a couple of years ago and took a complete break for 4 months. Mental health is not just a made up thing.

Once I wanted to get back on, I felt the need to come back to a lot of sites as someone new. So I picked up an alt login I had used back in the day and here we are.

So, Ironshaft = Sherck.

Well, I for one am glad to have you here, as Sherck, or Ironshaft. Thanks for the work as always!

[ChaosTheory]

Well, to come clean. I am Sherck.

I needed a break from the internet and social media a couple of years ago and took a complete break for 4 months. Mental health is not just a made up thing.

Once I wanted to get back on, I felt the need to come back to a lot of sites as someone new. So I picked up an alt login I had used back in the day and here we are.

So, Ironshaft = Sherck.

I lurked around and read this message board for years before I finally started posting. I was somehow suspicious this might be the case. I'm sure others were, too.

[Spike]

Well, to come clean. I am Sherck.

I needed a break from the internet and social media a couple of years ago and took a complete break for 4 months. Mental health is not just a made up thing.

Once I wanted to get back on, I felt the need to come back to a lot of sites as someone new. So I picked up an alt login I had used back in the day and here we are.

So, Ironshaft = Sherck.

Great to have you back!!!!!!

[Oldcolt]

Great to have you back!!!!!!

I’ll second that

[rcubed]

I’ll second that
thirded!

[JAFF]

After the Colts restructured Matt Ryan's contract converting $12m of 2022 salary in signing bonus, it spread the hit over 2022 and 2023 saving $6m in 2022 cap space giving the Colts $22.044m free cap space.

However,

$6.813m = Colts 2022 draft class
$1.410m = Spots #52 and #53 on the in season roster
$1.955m = 10 spot practice squad ($11,500 per week x 10 players x 17 weeks)
$3.500m = Estimated amount of "churn" space needed to sign 5 street free agents during the season due to player injury.
=======
$13.678m

$8.366m free 2022 cap space to sign new free agents. Not a lot.

Top 2022 Cap Hits for the Colts:
$18.705m = QB Matt Ryan (already restructured)
$16.000m = DT DeForest Buckner
$13.754m = OG Quenton Nelson (5th year option from rookie contract)
$13.000m = DE Yannick Ngakoue
$11.567m = OT Braden Smith
$11.166m = LB Darius Leonard
$10.625m = DT Grover Stewart
$09.750m = OC Ryan Kelly
$06.750m = CB Kenny Moore
$06.320m = TE Mo Alie-Cox
$05.545m = OT Matt Pryor
$05.140m = RB Nyheim Hines

That is everyone above $5m for 2022 and there is no one there that I see who is not a young contributor to the team (other than Ryan on the young part). No easy "just cut him and free cap" decisions there.

About the only guy I could point at as "overpaid" is Grover Stewart but I think that also underestimates his contributions to stopping the run game. He is a baller who I don't know we could replace well. Regardless, his dead money exceeds his 2022 cap hit so cutting him saves nothing.

Braden Smith and Darius Leonard are not good candidates for restructure because they already have $30m or more in "dead" money on their contract. Ryan Kelly is also not a great candidate as his dead money exceeds his 2022 cap hit as well.

As such, there are only a couple of choices:

A. Convert DeForest Buckner's 2022 salary into bonus like they did with Ryan and spread it over all three of his remaining years of his contract (2022/2023/2024). This could save $10.667m off the 2022 cap and push $5.333m into each 2023 and 2024.

B. Go ahead and sign Quenton Nelson to a long term contract. It could be structured to lessen Nelson's 2022 cap hit down to probably as low as, say, $3m saving upwards of $10m in 2022 cap by pushing it down the road.

C. Extend Yannick Ngakoue's contract. We pretty much know this is going to happen as he is has the perfect set of skills for a Gus Bradley defense. Like with Nelson, you could structure it however you wanted but you could push his cap hit down to around $3m freeing upwards of $10m of 2022 cap.

I would feel pretty good about any of these moves (much more better about A and B. Lesser about C but still good) as all three guys, I think, are going to be cornerstones of the franchise over the next 4+ years. I don't think we are going to be unhappy pushing money forward for any of these guys.

So, if desired, the Colts could free up an additional $30m of 2022 cap space by pushing it forward into the future. I feel good about doing so because we have lots of future free cap space:

2023 = $070.804m
2024 = $130.244m (only 13 under contract for 2024 + 3 rookie classes)
2025 = $195.500m (only Leonard, Smith and Paye are currently contracted for 2025 + 4 rookie classes)

If there are guys that Ballard and Reich want, cap space should not be the issue.

If we are indeed, "all in."

A. Convert DeForest Buckner's 2022 salary into bonus like they did with Ryan and spread it over all three of his remaining years of his contract (2022/2023/2024). This could save $10.667m off the 2022 cap and push $5.333m into each 2023 and 2024.

B. Go ahead and sign Quenton Nelson to a long term contract. It could be structured to lessen Nelson's 2022 cap hit down to probably as low as, say, $3m saving upwards of $10m in 2022 cap by pushing it down the road.

C. Extend Yannick Ngakoue's contract. We pretty much know this is going to happen as he is has the perfect set of skills for a Gus Bradley defense. Like with Nelson, you could structure it however you wanted but you could push his cap hit down to around $3m freeing upwards of $10m of 2022 cap.


Bingo, bango, bongo! Commit to those guys, only an idgit would let them go. I would extend bruckner past 3 years. Yeah, maybe he wont be the pass rusher, he will be the cement barrier separating traffic on the freeway

[omahacolt]

welcome back

[IndyNorm]

Welcome back Sherck! Great post and analysis. Just like back in the good old days!

I think Kelly could be a candidate to convert salary to bonus as well, but it would only get us ~$4M cap savings for '22. Might be needed in a pinch.

[IndyNorm]

Bingo, bango, bongo! Commit to those guys, only an idgit would let them go. I would extend bruckner past 3 years. Yeah, maybe he wont be the pass rusher, he will be the cement barrier separating traffic on the freeway

With the cap continuing to go up along with how much FAs are signing for, I'm guessing a lot of guys who are more than a year out probably don't want to extend beyond their current deals.

[Racehorse]

I lurked around and read this message board for years before I finally started posting. I was somehow suspicious this might be the case. I'm sure others were, too.

I had my suspicions. tried to prod an admission. He messaged me privately months ago. I was sworn to secrecy. Glad he is out of the closet now.

[ChaosTheory]

Glad he is out of the closet now.

I'm glad you were an ally for him so he could let people know that he's Sherck and he's proud! There's still some stigma over being Sherck. But overall, this country is becoming more and more accepting of being Sherck.

[Ironshaft]

I'm glad you were an ally for him so he could let people know that he's Sherck and he's proud! There's still some stigma over being Sherck. But overall, this country is becoming more and more accepting of being Sherck.

Lol...well played, Sir! Very well played!!

[CletusPyle]

As a newbie I have no idea who this Sherck is that you speak of, but this post by Ironshaft is amazing and much appreciated. Thank you sir for taking the time to put that excellent post together!

[rcubed]

As a newbie I have no idea who this Sherck is that you speak of, but this post by Ironshaft is amazing and much appreciated. Thank you sir for taking the time to put that excellent post together!


Long time resident capologist and overall good poster and the place is better that he’s back.

[Lov2fish]

As a newbie I have no idea who this Sherck is that you speak of, but this post by Ironshaft is amazing and much appreciated. Thank you sir for taking the time to put that excellent post together!

Absolute stud cap guru, and all around solid poster.