2024 Colts Cap

[AlwaysSunnyinIndy]

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?

Spotrac and OvertheCap are estimating the Colts to have about $22M or $23M left for this season - and they have all of this year's contracts captured except for Flacco and Ronnie Harrison.

[IndyNorm]

Originally Posted by AlwaysSunnyinIndy

Spotrac and OvertheCap are estimating the Colts to have about $22M or $23M left for this season - and they have all of this year's contracts captured except for Flacco and Ronnie Harrison.

So we're currently at $15M-$19M depending on how Flacco's reported ~$4M in incentives are structured. Does anyone know how in season incentives on a 1 year deal work? Guessing they go towards the following years cap but not sure.

Also, the $23M available cap space on OTC is ~$3M less than if you just do the math w/ the top 51. So I think it probably includes some rookie pool assumptions, etc.

So we could definitely still fit in Blackmon but will need to make additional space for Sneed.

[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.

[ukcolt]

I was thinking we must be running close to the "actual" limit.

We can still make adjustments if we want to sign a free agent potentially. But as someone said a while ago, we have actually signed quite a few free agents....they just so happen to be our own.

[Discflinger]

Thanks for the memories MAC. I know that the nfl hasn't placed Ogletree in the 'forgiven' realm, but it is probably just a matter of time. I did have high hopes for MAC and obviously CB did as well. I once met someone who went to high school with him. Said everyone was sure he'd make it in the nba.