Colts’ salary cap update after re-signing Anthony Castonzo

Colts are still among the top six in cap space.

The Indianapolis Colts made a big move Sunday in signing left tackle Anthony Castonzo to a two-year extension, which had an impact on the salary cap space for Indy entering free agency.

As the salary cap officially sits at $198.2 million for each team in the NFL, the Colts were among the top teams. Castonzo’s contract extension carries a $17 million cap hit for the 2020 season, which took a big hit out of the salary cap space. Still, they are among the top-six teams in salary cap space as the legal tampering period opens Monday.

With Castonzo’s contract now in play and the salary cap now officially set, the Colts are looking at $64.9 million in cap space, per Over The Cap. That’s still the sixth most in the NFL.

This was to be expected with Castonzo coming back. Left tackles are paid handsomely and even though the team got a solid deal in return, it was expected that Castonzo’s contract would take a pretty big chunk out of their salary cap space.

Keep in mind, the Colts like to keep roughly $7 million for rookie picks so their mindset on how much they actually will use will be different than the media and the fans.

The Colts won’t be a team that splurges in free agency, but they still have plenty of salary cap space to make any move they want. How that comes to fruition is why we watch out for free agency, but the Colts are still sitting with plenty of cash.

Broncos’ updated salary cap situation after tagging Justin Simmons

After placing a franchise tag on Justin Simmons, the Broncos saw their salary cap space drop by more than $11.5 million for 2020.

Before the Denver Broncos placed a one-year franchise tag on safety Justin Simmons, Spotrac.com estimated that the team had about $53.4 million in salary cap space. Simmons’ tag is worth around $11.545 million.

After subtracting Simmons’ 2020 salary from Spotrac’s estimation, we calculate that Denver has about $41.9 million in remaining salary cap space. If the Broncos move on from quarterback Joe Flacco, that total could increase to $51.95 million.

We won’t know the team’s exact salary cap number until the NFL finalizes a salary cap figure for the 2020 season. The league has projected that the cap will be between $196.8 and $201.2 million this year.

Denver general manager John Elway plans to continue negotiating with Simmons on a multi-year contract extension. By placing a tag on Simmons, the Broncos will prevent other teams from starting a bidding war — only Denver is allowed to negotiate with the safety now.

“We remain focused on reaching a long-term contract agreement with Justin, and he’s a big priority for us,” Elway said in a statement to the team’s official website. “This is a placeholder in that process and our goal is the same — to make sure that Justin is a Bronco for a long time.”

Simmons, 26, totaled 93 tackles and four interceptions last season.

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Broncos’ updated salary cap situation after A.J. Bouye trade

The Broncos still have plenty of salary cap space after trading for cornerback A.J. Bouye.

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The Denver Broncos have agreed to trade a fourth-round NFL draft pick to the Jacksonville Jaguars in exchange for cornerback A.J. Bouye. The move won’t become official until the new league year begins on March 18 but it’s going to happen as long as Bouye passes his physical examination.

By trading for Bouye, Denver has agreed to take on his contract, which has two years remaining.

The Broncos will now be responsible for paying Bouye about $13.5 million in 2020 and 2021, according to Nick Korte of OverTheCap.com. None of that is guaranteed, so it’s a low-risk move for Denver.

Before making the trade, the Broncos had around $70 million in salary cap space, according to OTC. After accounting for Bouye’s salary, Denver will be down to $56.5 million in cap space.

The Broncos are expected to cut quarterback Joe Flacco later this offseason, a move that would save more than $10 million. That would bring Denver’s salary cap space to $65.5 million.

So after making his first big move of the offseason, Broncos general manager John Elway still has plenty of cap to work with.

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3 Broncos who may become cap casualties

The Denver Broncos could save nearly $18 million against the salary cap by moving on from these three players.

The Denver Broncos could potentially save some money against the salary cap this offseason by releasing three veteran players.

Of course, there is still the contract of Joe Flacco on the books and the decision on what to do with him remains to be seen. Will the team be able to talk him into sticking around as a veteran backup to Drew Lock, or will the Broncos cut ties and choose to eat over $13 million in dead money?

Though that sounds like a lose-lose situation to many, there are some moves the team can make to get some money back.

Recently, I have talked about pending free agents the team should move on from as well as free agents the team should re-sign. But in order to fully evaluate the roster, the team must also consider players that are not scheduled to become free agents.

The three players below are all guys that the Broncos could and probably should move on from due to a combination of lack of production as well as a way to get back some cap space.

All figures were taken from Over the Cap.

1. Ron Leary, guard

Dead money: $875,000

Cap savings: $8.5 million

Leary has a club option for the 2019 season and the Broncos choosing not to pick that up is a no-brainer.

The signing of the veteran offensive lineman seemed like a great move when it was made, but he has been a disappointment for the team.

Leary has yet to play in a full 16-game season for the Broncos and out of a possible 48 games, he has played in just 29 as various injuries have forced him to end multiple seasons on injured reserve.

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Broncos will have plenty of salary cap space in 2020

Broncos general manager John Elway will have plenty of salary cap space to use during the 2020 NFL offseason.

Denver Broncos general manager John Elway is going to have a busy offseason. In addition to having seven picks in the first four rounds of the 2020 NFL draft, Elway will also have plenty of salary cap space available during NFL free agency.

Denver did not use $14.78 million of its 2019 salary cap space, according to NFL Players Association records accessed Thursday evening. That means the Broncos will be able to roll over that unused 2019 cap into their 2020 total.

The NFL has estimated that it’s 2020 salary cap total will be between $196.8-$201.2 million. Add in Denver’s rollover cap space and the Broncos will have a 2020 cap of between $211.58-$215.98 million.

Denver currently has $150,873,545 worth of contracts counting against its 2020 cap, according to OverTheCap.com. Subtract that the team’s projected cap of $211.58 million and the Broncos have $60,706,455 in salary cap space. Elway could create even more space by cutting a few veterans.

Denver could save $10.05 million by cutting quarterback Joe Flacco and $8.5 million by parting ways with guard Ron Leary. Making those two moves would bring the team’s salary cap space to $79,256,455. It’s safe to say Elway could make some big splashes with nearly $80 million.

The 2020 league year — and free agency — will begin on March 18.

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Colts expected to have $93.4M in salary cap space

Colts have the second-most cap space.

The Indianapolis Colts will once again find themselves among the league leaders in salary cap space when the new league year begins in the middle of March.

Though the estimations aren’t exact because the league is yet to announce what the salary cap is, the Colts are expected to have over $93.4 million in salary cap space based on a $200 million cap. That’s good for second-most in the NFL behind the Miami Dolphins ($98.3 million), per Over The Cap.

The Colts have several needs to address this offseason even with the depth of the roster growing stronger. Adding to the defensive line and wide receiver room is likely on the docket for general manager Chris Ballard.

There are a few intriguing names that the Colts should be willing to pay up for. Jacksonville Jaguars defensive end Yannick Ngakoue and Dallas Cowboys wide receiver Amari Cooper are among those players should they hit the market.

It isn’t a secret that Ballard prefers to build the bulk of the roster through the draft. That has also caused him to stay relatively frugal when it comes to spending big on a free agent.

While the Colts roster is getting deeper with talent, they need to begin adding some top-end performers, especially when it comes to the wide receiver and cornerback room.

The Colts can’t begin negotiating with other free agents until March 16, which is officially the start date of the legal tampering period.

It will be an interesting offseason for the Colts, but they will have no shortage of resources if Ballard decides to open the check book.

Broncos could have about $74M in salary cap space in 2020

The Broncos could have as much as $74 million in 2020 salary cap space.

The NFL has projected a 2020 salary cap of $196.8-$201.2 million, according to The Athletic’s Daniel Kaplan. This year’s salary cap number was $188.2 million, around $10 million less than the 2020 projection.

The Broncos have about $150 million worth of 2020 salaries scheduled to count against their cap, according to OverTheCap.com. So if the league raises the cap to $200 million, Denver general manager John Elway would have about $50 million to work with.

And if the Broncos don’t use all of their salary cap space this year (around $14 million), that unused cap will roll over into the team’s 2020 total.

Elway could also save around $10 million in 2020 cap space by parting ways with quarterback Joe Flacco, which appears to be a likely move. Flacco was underwhelming before a neck injury prematurely ended his 2019 season.

So Denver could potentially have $74 million in 2020 cap space.

The Broncos’ list of players scheduled to become free agents in March includes cornerback Chris Harris, defensive lineman Shelby Harris, safety Justin Simmons, defensive end Derek Wolfe, center Connor McGovern, defensive lineman Mike Purcell and safety Will Parks.

Denver coach Vic Fangio has hinted that Simmons will get a contract extension. The futures of the team’s other free agents are less certain.

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