NFL SALARY CAP $133 Million
Current Salary Situation - 67 palyers $122.3million
Overthecap.com the Colts currently have 67 players under contract totaling $122.3 million dollars.
Dead Money - $1.9 million
This brings to total committed to the 2014 NFL Season to $124.2 million.
Cap Room - $15.7 million
Only the top 51 players' salary count against the salary cap. This means that 15 of players currently on the roster have no impact on the salary cap. The total of the top 51 is currently $117.3 million leaving $15.7 million of space. However, this should not be read as a hard budget. Remember, that with each player signed, it will push another player below the threshold.
Draft Picks - Estimated Cap impact $600k
With only 5 draft picks and no first rounder, the impact of signing draft picks is almost negligible. The salary of the 6th and 7th round picks is unlikely to crack the threshold of the top 51. The other picks add only incrementally to the cap since they are largely offset by other players moving below the 51 player threshold.
Maximum Spendable Amount
1 Free Agent - $16.2 million
2 Free Agents - $16.7 million
3 Free Agents - $17.2 million
4 Free Agents - $17.7 million
Presumably any free agent contract signed will qualify as one of the top 51. Therefore with each additional contract signed, it moves about $500,000 below the threshold counted against the cap.
Alex Mack - 4 years $34.0 million
Chris Clemons - 3 Years $15 million
Remaining Spendable Cap - $3.2 million