According to NFL Network’s Rand Getlin, the NFL’s salary cap is supposed to jump to $155M in 2016, which is nearly $12M more than last year’s threshold of $143.28M:
Of course, it’s big news for the Colts, who are entering the 2016 offseason with a total team salary cap of around $139M–meaning that the team is projected to have around $16M of cap space before the organization makes any subsequent moves.
It’s been speculated that Luck should command at least $20M annually on his next contract–one that should exceed 9 digits, and could earn as much as $25M per year on his next deal.
A deal that could very well make him the highest paid player in NFL history.
Currently, Luck is set to play on a $16.12M team option for 2016, the last remaining year of his rookie contract. As a result, he figures to be in-line for a pay raise on his upcoming mega-deal.
While the team could theoretically free up some additional cap space by releasing a high-priced veteran such as Andre Johnson or Arthur Jones, this offseason doesn’t figure to be a free agency frenzy of signings like last offseason regardless.
Instead, the Colts will look largely to the NFL Draft in order to get younger and infuse much needed speed and talent on both sides of the football, while improving their roster as a whole through internal development.