Adjustment gives Colts additional $4.95 million in salary cap space
INDIANAPOLIS, Ind. (Feb. 25, 2016) – The Indianapolis Colts are breathing a little easier under the 2016 salary cap after the NFL Players Association released a team-by-team adjustment Thursday.
Teams are allowed to carry over unused cap space from a previous season, and the Colts have done so to the tune of $4,950,629. The 2016 salary cap, which goes into effect March 9, is expected to be approximately $155 million. It was $143 million last year.
The teams carrying over the most salary-cap allotment are the Jacksonville Jaguars ($32 million), Tennessee Titans ($22.8 million) and Cleveland Browns ($20 million).
The latest adjustment reveals the Colts should have adequate flexibility moving forward. The currently sit with about $29-30 million in cap space.
They are committed to signing quarterback Andrew Luck to what will be a blockbuster extension, and must address several of their own players who can become unrestricted free agents March 9. That list includes placekicker Adam Vinatieri, tight ends Coby Fleener and Dwayne Allen, linebacker Jerrell Freeman and quarterback Matt Hasselbeck.
The Colts are expected to create additional cap space by terminating the contract of wide receiver Andre Johnson, which would free up $5 million. Linebacker Trent Cole ($6.125 million) also is a possibility.