With free agency approaching, these three moves could help the Indianapolis Colts free up more cap space so the team can sign free agent targets.
NFL free agency starts on Wednesday, March 15. As things currently stand, the Indianapolis Colts only have $11.9 million in cap space to work with this offseason. If Indy wants to really be aggressive, and make the necessary moves to improve the roster, it will need more cap space than the 11.9 million dollars the team currently has.
Indianapolis will be balancing trying to re-sign players like Parris Campbell and Yannick Ngakoue, while also trying to add guys like Issac Seumalo. In order for that to happen, the Colts need more money. Luckily, there are plenty of ways to create cap space in the NFL and several teams throughout the league have already started that process.
From releasing and trading players to restructuring contracts, teams make several tough decisions each offseason in the name of cap space. Indianapolis can follow suit and create more space for the team. Here are three moves the Colts can make to clear up cap space.
3. Colts can release Mo Alie-Cox to clear cap space
This could be a tough one because Mo Alie-Cox has played his entire five-year career in Indianapolis, and just last offseason, he was re-signed to a three-year deal worth $17.5 million. However, with two years remaining on that deal, the circumstances could make Alie-Cox a cap casualty for Indy.
Alie-Cox doesn’t have a big salary, his 2023 cap hit is just $5.3 million. But, if Indianapolis wants to add as many additional millions in cap space as possible, moving on from Alie-Cox makes sense, because his absence won’t have that big of an impact on a tight end room in Indianapolis that has suddenly become very deep.
Last season, although Alie-Cox was the veteran in the tight end room, he had less receptions and yards than second-year tight end Kylen Granson and rookie tight end Jelani Woods. Add in the fact that Andrew Ogletree, a rookie tight end who reportedly had the best training camp of all the tight ends, should make his debut next season, and the Colts have three really young and promising tight ends. That could lead to the departure of Mo Alie-Cox.
2. Colts can move Matt Ryan to clear up cap space
This is an obvious move that many are expecting to come sooner or later. Matt Ryan doesn’t have much of a future in Indy and he has the biggest 2023 cap hit on the team, and once Indianapolis moves on from him and his contract, the team will be in a pretty good standing and have plenty of cap space to work with this offseason.
Ryan’s 2023 cap hit is $35.2 million, easily the most on the team. However, his dead cap is only $18 million, so if he was released, the Colts would get roughly 17 million additional dollars in cap space. Without any other moves being made, that would put Indy’s cap space around $28 million. The only thing that would be better for Indianapolis is finding a trade partner.
If the Colts found a trade partner for Matt Ryan that’s willing to accept all of his contract, it would be a miracle, but it would also free up around $35 million in cap space. With so many quarterback-needy teams looking for veteran help, its possible that Ryan could be traded for a late-round pick, but whatever team trading for Ryan would certainly ask Indy to take on some of his remaining salary.
Whike it’s expected that the Colts will move on from Ryan, they haven’t done so yet, and they haven’t even committed to moving on from Ryan. General manager, Chris Ballard, has just been honest about the fact that Ryan’s situation took a backseat to Indy’s coaching search. At the Combine, Ballard did say that he and head coach Shane Steichen will start discussing Ryan’s future as free agency approaches.
1. Colts can trade Kenny Moore
No one’s really sure what Kenny Moore’s future is with the Colts. He ended the season with a somber press conference where he openly questioned if he’d played his last game in Indianapolis. However, Moore has since used his social media to express his commitment to the Colts. Even still, that may just be a sign of what Moore wants but not necessarily an indication of what the team will do.
Moore is entering the final season of his contract with an $8 million cap hit. He has already made his desire for a contract extension known, so that’s something that could also be a factor on whether or not he’ll be on Indy’s roster next season. If the Colts can’t agree to an extension with Moore, it would make sense to trade him and get something back before he leaves in free agency next offseason.
Considering that Kenny Moore is still a versatile and talented player, it’s unlikely that Indianapolis will just release him, because several teams would surely be interested in acquiring him. Aside from the contract situation, Indy could decide to move Moore just to clear up some cap space.
With the start of free agency under a week away, it’s time for Indianapolis to start making some decisions. Either the Colts will roll into free agency with $11 million in cap space, or they will part ways with some players and clear cap space.
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