The Indianapolis Colts were uncharacteristically among the big spenders this offseason but still have enough salary cap space left to make some moves before the 2020 NFL draft if they want to.
Starting free agency with roughly $80 million in salary cap space, the Colts are now down to just over $24 million—good for the seventh-most in the league, per Over The Cap.
The big contracts like the extensions for defensive tackle DeForest Buckner and left tackle Anthony Castonzo took a big hit out of the salary cap as did the one-year deal for quarterback Philip Rivers.
After that, the Colts signed some cheap one-year deals that barely impact the cap. Those came in the form of defensive tackle Sheldon Day and cornerbacks T.J. Carrie and Xavier Rhodes.
With $24 million left, the Colts could still make a a move for a depth player but their big spending is likely over. When considering the amount of money needed for the draft pool and the amount of money the Colts might rollover to 2021, a big contract likely isn’t on the way.
Chris Ballard’s frugality in recent offseasons has allowed for this big offseason of spending. It gave them the flexibility with the salary cap to add a player like Buckner on a four-year extension while also signing Rivers to a $25 million deal.
With the draft just a few weeks away, the Colts are turning all of their focus on the incoming rookie class, but they still have enough money to make a move if they need to.