The Indianapolis Colts will enter the 2025 offseason with $32.98 million in available salary cap space, according to Over the Cap. So where does that rank among the rest of the NFL in terms of spending power?
If the Colts choose to do so, there are other ways that they can create additional cap space.
One way is by releasing a veteran player whose cap hit is larger than their dead cap hit. A dead cap hit are dollars that have essentially been paid to the player already but because of the structure of the contract, those dollars haven’t hit the salary cap books quite yet. So even if the player is released, they still count against the current year’s salary caps because it all has to be accounted for at some point.
But in this example, where the dead cap hit is lower than the cap hit, moving on from that player can still save the team cap space. For example, if a player has a cap hit of $8 million if they are on the team and a dead cap hit of $4 million if released, the team creates $4 million in cap space by moving on.
Another avenue to creating cap space is through a contract restructure. In short, through various maneuvers, such as converting a portion of a player’s base salary to a signing bonus, the team basically moves cap charges from the current year and kicks the can down the road to future contract years. The benefit is that it lowers the current cap hit of a player but it does raise the player’s cap hit in future seasons.
Lastly, is an extension, and that works similarly to a restructure. With new years and money added to the deal, teams will often use this as an opportunity to push a portion of the current year’s cap hit down the road and into those future years.
It’s also important to note that these salary cap figures are just projections based on what the estimated 2025 league-wide salary cap number is. That amount will be determined prior to free agency, but obviously depending on where that figure falls in relation to Over the Cap’s estimated amount, that can fluctuate these salary cap numbers one way or the other.
In addition to the Colts deciding on what outside additions they may want to make in free agency, they also have their own 2025 free agent class to make decisions on as well.
Some positions of need for Indianapolis this offseason includes cornerback, safety, linebacker, and tight end, along with bolstering the depth at running back, quarterback, and the interior defensive line.
GM Chris Ballard said his big “mistake” last offseason was not creating more competition on the roster. So does that mean we see a new approach in free agency this time around? Only time will tell.
Now, on to the current 2025 salary cap rankings: