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NFL Salary Cap Projected To Rise To $130 Million In 2014

Add another $7 million to the Colts' estimated cap figured for 2014.

Kirby Lee-USA TODAY Sports

Last week, we wrote that the Colts could have anywhere from $33 to $50 million in salary cap space, depending upon whether or not overpriced veterans like Ricky Jean Francois, Greg Toler, and/or Samson Satele would be released. Today, you can add about another $7 million to that figure:

What this means is that the extra $7 million effectively covers signing all draft picks from the 2014 NFL as well as any free agent rookies. This leaves general manager Ryan Grigson with, basically, $33 to $50 million in salary cap space to spend just on veterans.

Keep in mind, Grigson has his eye on 2016, when Andrew Luck will become a free agent and ask for more money than Indianapolis every gave Peyton Manning. And guess what: They'll pay him every red cent.

However, even with Luck's free agency looming, Grigson has more than enough cap space to bring in better free agents and, hopefully, right some of his wrongs from last year.