Also, cap update.
$212.900m = 2022 Colts adjusted salary cap
$192.597m = Current top 51 salary cap hits
$006.813m = Dead cap
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$013.490m = Off-Season free cap space
$001.650m = Spots 52 and 53 on in-season active roster (estimated)
$004.238m = Projected draft class cap hit (when replacing current top 51 hits)
$001.850m = Practice Squad cap hit (estimated)
$003.000m = In-season "churn" space to sign street free agents due to injury
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$010.738m = In-season additional cap needed
$002.752m = Free Cap Space to sign free agents
Since they would be replacing someone who is already being counted at a minimum of $825k, you really can sign a total of $4.2m in free agent contracts for 2022.
Obviously, to do anything like sign a veteran WR or interior O-Lineman, we would need to free some cap space. The easiest way to do this would be to:
1. Extend Quenton Nelson and lower his 2022 cap hit.
2. Turn some of DeForest Buckner's 2022 salary into bonus and pro-rate it over the remainder of his contract (2022/2023/2024) to lower the cap hit this year.
3. Extend Yannick Ngakoue and lower his 2022 cap hit.
If Ballard wants anyone else out there in veteran land, he has options.
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