Report: Colts RT Braden Smith contract restructure saves nearly $10M in cap space

Braden Smith’s contract restructure saves the Colts a nice chunk of change.

Colts general manager Chris Ballard revealed at the NFL Scouting Combine during his media availability that longtime Colts tackle Braden Smith was on the mend from his end-of-season personal matter that caused him to miss the team’s last five games. Not only that, but he wants to get back on the field.

It was a tough situation for both parties to be in. Smith is a mainstay starter as the right side of the line’s bookend tackle, and his Pro Bowl-caliber of play was always evident when he was on the field. The issue lies in the middle of said sentiment though — Smith has struggled to remain on the field, whether the reasons be an injury or a personal matter.

Smith has only finished one full season over the past four years and this served as the driving force behind why the Colts essentially gave him an ultimatum to kick off free agency: he either restructures his contract to more accurately reflect his value at this point in time or the Colts cut ties with their longtime starting tackle — the Colts were never going to trot an unreliable (in terms of availability) tackle out onto the field with a $19.75M cap hit.

A revised contract would end up settling the score, but until now, fans and media alike were unsure of just how much the Colts would be saving from the restructure in question.

Per Over the Cap, Braden Smith’s revised deal puts him at a $10.4M cap hit for the 2025 season, the last year of his deal.

This move saves the Colts $9.35M in cap space and puts the team’s total salary cap at $21.17M as we move into the next phase of free agency. When you consider the projected draft class cap hit of $5.5M, the Colts have ~$15.67M of cap space left for the remainder of the offseason — though this number doesn’t account for the unreported contract numbers of recently signed free agents DT Neville Gallimore and RB Khalil Herbert.

When you consider his durability concerns, Braden Smith’s restructured deal went from being an uncomfortable overpay to a worthwhile bargain. His previous $19.75M cap hit went from slotting in as the 8th-highest cap hit amongst all right tackles leaguewide, to being the 16th-highest paid cap hit for a right tackle in the 2025 season.

Even though it remains a mystery whether or not we’ll get a healthy Braden Smith for what could be Chris Ballard and Co.’s final season in Indianapolis, the revised cap hit provides financial flexibility elsewhere while also creating more value at the position.

Chris Ballard said during his media availability at the NFL Combine that Colts’ capologist Mike Bluem would have his work cut out for him this offseason, and so far so true — one restructured contract and two massive, backloaded outside free agents contracts later.