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Colts gain $2.75 million in cap space as they officially place Pat McAfee on reserve/retired list

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Denver Broncos v Indianapolis Colts Photo by Andy Lyons/Getty Images

Earlier this offseason, Colts punter Pat McAfee announced his retirement from the NFL, and he’s already busy at work in his new job as the COO of Barstool Indy.

But there was still a bit of bookkeeping for the Colts to do regarding McAfee’s retirement, and they finally got around to it today. The Colts today officially placed McAfee on the reserve/retired list, which frees up $2.75 million in cap room.

Though the Colts would have been aware of the cap savings and would have been factoring that into their planning, they now will officially have that extra bit of cap room to work with. Even though they’ve signed thirteen free agents in the past two weeks, the Colts still have a decent amount of cap room left. According to the NFLPA’s most recent report, the Colts have just over $29.2 million in cap room, though that’s with 70 contracts in the books. With 72 players listed on the roster, it’s possible that the latest two signings aren’t recorded yet. Either way, with the added savings from McAfee’s retirement, the Colts should be somewhere around $32 million in cap room, again depending on how much the contracts are worth that have not yet been updated. savings and

Some of that cap space will be needed for signing draft picks and late free agent signings, while the Colts have typically liked to carry over some unused cap space to following years as well. So the team won’t have to spend a lot more money, but they have the flexibility to do so if they so desire. McAfee’s retirement officially hitting the books just gives them a bit more to work with in that regard, though they’ve surely already been operating with that in mind.