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NFL Salary Cap Will Officially Be $182.5M; Colts Armed with Around $47M of Cap Space

NFL: NOV 18 Titans at Colts Photo by Zach Bolinger/Icon Sportswire via Getty Images

According to Pro Football Talk, the NFL salary cap is to be officially set at $182.5M—which means that the Indianapolis Colts have roughly $47M of cap space available at their disposal this early offseason.

PFT’s report was later confirmed by multiple league sources on Wednesday morning:

With last year’s salary cap at $198.2M, that’s roughly a $16M decrease in this offseason’s salary cap as there were league-wide revenue shortfalls because of the negative impacts of COVID-19.

It’ll be interesting to see how some NFL teams plan to create more ‘wiggle room’ under the decreased salary cap:

It also could make for an unusual free agency period, as while the elite free agents will still presumably get paid, it could make for a ‘cooler market’ for some of the mid-tier starters and veterans.

Meanwhile, the Colts continue to ‘sit pretty’ with tremendous salary cap flexibility going forward—and the ability to add an impact free agent or two this offseason.

That being said, Colts general manager Chris Ballard is well aware that the team has some looming lucrative contract extensions coming up for Darius Leonard and Braden Smith after the 2021 season, as well as offensive guard Quenton Nelson—just an offseason later, to be totally mindful of.

However, given the unusual salary cap landscape that teams now find themselves in, the Colts are in a far more favorable position in this ‘new frontier’ than a lot of other teams right now.