The Indianapolis Colts announced on Thursday that they officially signed fifth-round pick Jaylin Simpson. Over the Cap now has the details on what Simpson’s rookie deal will look like.
Simpson received a standard four-year rookie contract that has a total value of $4.317 million, including a $297,016 signing bonus.
Simpson will receive the full signing bonus up front, but from a salary cap perspective, that $297,016 can be pro-rated over the life. Or, in short, the cap hit in 2024 from that bonus is just $74,254.
That pro-rated signing bonus amount plus a base salary of $795,000 makes up Simpson’s cap hit for this season, which totals $869,254.
Moving forward, a $74,254 cap hit from the pro-rated signing bonus will be on the Colts’ books all four years of the contract, along with Simpson’s base salary increasing each year as well.
In 2025, his base salary will be $960,000. In 2026, it will be $1.075 million, and then $1.190 million in 2027.
Here is a look at what Simpson’s cap hit will be each season:
2024: $869,254
2025: $1.034 million
2026: $1.149 million
2027: $1.264 million
Simpson was listed as a safety at Auburn but will be a cornerback with the Colts and comes to the NFL with experience playing both on the boundary and in the slot at the college level.
As a rookie, Simpson’s biggest impact may end up coming on special teams, but his presence does bolster the depth and competition within the cornerback room.
Following the draft, defensive coordinator Gus Bradley did say that outside of Kenny Moore, the starting boundary cornerback spots are ‘wide open.’ The favorites for those two spots are likely JuJu Brents, Dallis Flowers, and Jaylon Jones.