Looks like he may be part way there:

Update (2:48 PM EST): On ‘The Pat McAfee Show’, Colts general manager Chris Ballard indicated that Ryan’s recent restructuring should free up $11.8M of additional cap space:

Matt Ryan has agreed to add more guaranteed money on his contract and restructure his deal with #Colts, per @JFowlerESPN.

Ryan doing this opens up $11.8 million in cap space to use immediately. pic.twitter.com/bAXtN2Vsjs

— Locked On Colts Podcast (@LockedOnColts) March 22, 2022

I have a hard time seeing Ballard make this move before this year. He always seemed to want to take the cap hit now. He has modified his stance because it appears to be warranted. Once again Ballard is proving to be more nuanced than a lot of people gave him credit for. Good for us.

I wouldn’t underestimate how much Irsay has to do with any potential change in Ballard’s thinking.

Re do Buckner and Nelsons contracts. They want to keep them,it would make sense.

The Colts restructured Wentz's contract after they traded for him last year. In that case, they tweaked the roster bonus to float half of the bonus money to the following league year. It created about 5MM in cap space for last season.

However, I agree that Ballard is not quite as rigid in decision making as some people make him out to be.

https://www.stampedeblue.com/2021/3/...-cap-situation

Maybe, but I hope that's not the case. NFL owners meddling in team management rarely turns out well. I've always though that Irsay's willingness to leave this sort of stuff to his front office and coaching staff is one of his best traits as an owner.

Ballard's not changing his thinking. He hasn't done anything thus far that's deviated from previous off-seasons.

I believe, cant prove, that Irsay doesnt meddle with the day to day workings. After the Jacksonville disaster, he got directly involved, as his right, as the owner. He wanted something done, gave Ballard and his crew the marching orders, and here we are.

Ballard will have a job in Indy as long as he produces results. Same with Reich. If he cant make the offense work with Ryan he will be gone

I agree to a point. I don’t want an owner involved in individual personnel decisions, but I do want an owner that sets a level of expectations for the franchise. I quit following the Pacers because it became obvious their priorities as owners didn’t match mine as a fan. I believe Irsay’s priorities align with mine. I’ll be very happy if his displeasure with last season results in a little more prioritization of now by Ballard.

And that’s the mentality you have to have. You need to live for the next play. If you are hurt it doesn’t help anyone. Playoffs are the time to kick it up a notch. But 3rd and 12 in the 2nd quarter in week six isn’t the down you risk your health on.