Thanks to a recent change by the NFL, the Indianapolis Colts will have much more cap space entering the 2023 NFL offseason.
The Indianapolis Colts have a lot of changes they need to make this offseason and that change could be assisted by a recent salary cap change made by the NFL. On Monday, it was reported that the NFL is giving every team a record salary cap of $224.8 million. For perspective, the salary cap for this past season was just $208.2 million, so that is a significant increase. That means players can either get bigger contracts or the team will be able to sign more quality players, depending on the given cap space of each team.
For the Colts, the change should assist Indianapolis in giving several of its young players’ contract extensions. While indy has several needs that should be addressed in free agency, the team also has guys like Jonathan Taylor and Michael Pittman Jr. entering the final year of their contracts. This increased salary cap should definitely have an influence on contract negotiations and could also make way for Indy to add more talented players in free agency.
The NFL informed teams today that the 2023 salary cap will be a record $224.8 million per club, sources tell me and @RapSheet.
— Tom Pelissero (@TomPelissero) January 30, 2023
That’s up from $208.2 million in 2022, $182.5M in 2021 (COVID adjustment), 198.2M in 2020 and $188.2M in 2019.
NFL increases salary cap to $224.8 million for 2023
While this gives the Colts and other teams more room to operate, Indianapolis still finds itself in a rare spot entering the 2023 offseason. Unlike in past years, Indy isn’t entering the offseason among the top teams in available cap space. Currently, the Colts are projected to have just under $11.9 million in cap space. That puts Indy at 14th in the NFL. However, as we’ve frequently seen, cap space is very manipulatable. Between restructures and voidable years, teams find ways to get themselves more money to spend.
For Indy, they’ll have a few options this offseason to clear up some cap space. The majority of the cap space-clearing moves will either be cutting or trading players. With Matt Ryan still on the roster, and due upwards of $35 million next season, his future with the team could have huge implications on the cap space. With Ryan likely to be traded or released, the Colts will be able to get more cap space once they arrive at a decision.
Ryan is the most likely name that Indy will move on from but he’s not the only possible name. Longtime veterans like Kenny Moore and Ryan Kelly are also players that could be traded. With the Colts entertaining a trade up to the No. 1 pick, there’s no telling what players Ballard would move. Whatever moves are ultimately made by the franchise, Indianapolis now has a larger salary cap to work with this offseason.
Final grades for every Colts free agent signing from 2022
One year later, let’s take a look at how the 2022 free agent acquisitions for the Indianapolis Colts faired in the 2022 season.