For those of you wondering what the Colts cap situation is, take a look at Colts Cap and feel better about your team. The Colts should have roughly $6,000,000 in cap space entering 2009 with the bloated specter that was Corey Simon finally coming off the books. That's right folks! Even though corey Simon hasn't played a lick of football since 2005, he has been roughly a $6,000,000 hit againt Indy's cap. Now, he's gone. Finally, finally gone.
The downside to the 2009 cap is Peyton Manning will currently count $21 milion against it, and Marvin Harrison $13 million. The $21 million Manning hit is the highest Peyton's cap gets under his current contract, which he signed in 2004. His number drops down to $19 million in 2010 and finally $15 million 2012. Likely, Indy will re-negotiate Peyton's contract to spread out roughly $5 million over the next few years.
Harrison's contract is different. He is scheduled to get paid $13 million for the next three years. The Colts simply are not going to do that. They will ask Marvin to re-structure, and if he refuses they will release him. Either way, the Colts will have significant cap room to re-sign key free agents like OC Jeff Saturday, CB Kelvin Hayden, RB Dominic Rhodes, and DT Darrell Reid.