The Indianapolis Colts entered the offseason with two priorities: Re-signing Daniel Jones and keeping Alec Pierce in town for the long run. They placed the transition tag on the quarterback, and have now re-signed the wide receiver to a four-year contract.
Now, it's all about patching up the roster. However, GM Chris Ballard will have to do plenty of financial juggling to make sure there's enough money to spend in free agency. That will most likely require some contract restructures.
Considering that, and with the team still slightly over the salary cap, their next move after re-signing Pierce looks rather obvious. They must rework DeForest Buckner's massive contract and convert most of that money into a signing bonus.
The Indianapolis Colts need to work something out with DeForest Buckner
As things stand now, Buckner has the second-largest cap hit on the team behind only Daniel Jones ($37.8 million). Restructuring his contract would free $14.46 million of his huge $26.6 million cap hit. According to Over The Cap, the Colts are $100K over the salary cap, so every penny will count here, even with Pierce and Jones already locked in.
The Colts gave Buckner a two-year contract extension worth $46 million. He's signed through the 2026 season, so he might push to get another extension instead of just reworking his current deal. That move would also clear $17.36 million, so given his status as a fan favorite and shutdown defender, that also makes sense, even at 31.
Buckner is coming off another strong campaign with Shane Steichen's team. His Pro Football Focus grade (74) ranked 14th among 136 eligible defensive linemen, and he's known as one of the most physical pass-rushing tackles in the game.
The veteran tackle registered the fifth-most QB hits (11) among tackles last season, adding four sacks, 22 run stops, 21 hurries, and 36 total pressures. He should continue to be instrumental to Lou Anarumo's defense for as long as he's healthy.
Players are often hesitant to restructure their deals, but with no long-term money on the table, the table is set for both parties to sort something out.
Despite their wishes to keep him, the Colts already moved Michael Pittman Jr.'s huge contract and managed to keep both of their most prominent free agents in town, so now, the rest of their offseason moves might hinge on what they can do with Buckner's massive contract.