The Indianapolis Colts need to create some cap room in order to bring back some players the team likely wants, as well as sign the 2026 draft picks and fill out the practice squad. The team currently has $26,913,489 in cap space, according to Over the Cap. That is the 13th-most in the league.
That number is based on the projected cap ceiling, of course, and that could go higher once the NFL releases its true numbers. Indy might have a bit more room to sign some players, but other teams will too. In other words, some teams might be able to outbid Indianapolis for a key player.
Two such players are quarterback Daniel Jones and wide receiver Alec Pierce. Jones's asking price might be a bit lower after he tore his Achilles tendon in Week 14, which means he might not be ready by the start of 2026. Pierce's asking price just kept going up as the 2025 season grew old.
Five ways the Indianapolis Colts can create a lot of cash for 2026
The good news is that the Colts do have ways to easily create as much as $46 million, plenty of room to bring back Jones, Pierce, and right tackle Braden Smith, should they want to. All the potential cap savings below are supplied by Over the Cap.
Colts could release wide receiver Michael Pittman
2026 cap hit: $29 million
Cap savings: $24 million
Pittman is a fine receiver, but he isn't a $29 million cap hit receiver. He doesn't produce enough to make that much, and he never has. Is he sure-handed? Absolutely. He's also a good guy to have in the locker room.
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But at his cap price, he should be a receiver who has 100 catches and 1,300 yards nearly every season. The only time he has come close was in 2023. Partly because of the way he is used, much more of a possession receiver than an Alec Pierce-type. This season, Pittman averaged only 9.8 yards per catch and had just 784 yards.
His contract was seemingly one that would always force the team to make a difficult financial decision. If Pittman had a cap hit of $16 million, he'd be a keeper. He isn't at $13 million more.
Colts could extend running back Jonathan Taylor
2026 cap hit: $15,562,000
Cap savings: $8,612,000
Taylor's contract is up after 2026, and while he has spent six years in the NFL, he is still only 27 years old. Running backs tend to fade quickly when they reach age 30, but we are still a few years away from that happening with Taylor.
He remains one of the best running backs in the NFL and the key part of the Colts' offense. Signing him to an extension seems like a no-brainer, especially as it will save the team money this offseason. Better to make the move before free agency begins.
Colts could release kicker Spencer Shrader
2026 cap hit: $1,375,000
Cap savings: $1.2 million
A football team needs just one kicker, of course, and Indianapolis basically has two currently. Shrader, who suffered a knee injury early in the season after a good start, is under contract next season, but late-season addition Blake Grupe is an exclusive rights free agent. That means Indy just has to offer Grupe anything to keep him.
Grupe has a stronger leg than Shrader, and that's important. The former Saints kicker might help the Colts steal a game with a 56-yard field goal, while Shrader is unlikely to do that. While the cap savings aren't much for releasing Shrader, the roster spot would be open for the team to bring back Grupe.
Colts could release defensive lineman Grover Stewart
2026 cap hit: $14.25 million
Cap savings: $12.25 million
Stewart has been a hard-working grinder in the middle of the Indianapolis Colts' defensive line for nine seasons. The issue is that he will turn 33 years old early in the 2026 season, and his production diminished in 2025. His tackles and tackles for loss were his lowest in a full season since 2021.
He's still solid against the run, but general manager Chris Ballard confessed that the front of the team's defense needs to get younger and more athletic in his season-end press conference. Letting Stewart go would be emotionally difficult, but financially, the correct decision.