With longtime Indianapolis Colts tight end Jack Doyle’s retirement on Monday, the franchise should have some additional wiggle room under the league’s 2022 salary cap—which was reported to be officially $208.2M later in the day.
Specifically, OverTheCap.com had the Colts this past weekend at $35.8M under the league’s salary cap, but that number has since increased to $42.5M following Doyle’s recent retirement announcement. Spotrac reports the move freed up $5.45M of extra cap space.
However, depending on who you might ask, the Colts’ potential available salary cap space could be even a little higher right now (i.e, roughly $3M in that particular regard):
Congrats to Jack Doyle. Amazing career for an undrafted free agent.— Kyle Rapoza (@ColtscapKyle) March 7, 2022
Doyle leaves behind $750k in dead money and frees up $5.45 million to the Colts cap.
My math has them at ~ $45.5 million after his reitrment and their 2022 adjustment.
For what it’s worth, Spotrac has the Colts with currently the 5th most available team salary cap space right now at $41.8M. (That number could only increase if the Colts wipe incumbent starting quarterback Carson Wentz’s remaining $12M currently unguaranteed cap hit from the books in the coming week and a half [before it’s fully guaranteed on March 18th]—with an anticipated trade or his release, as earlier reported).
It couldn’t come at a more crucial time for the Colts either, as already without a first round pick in this year’s NFL Draft, Indianapolis will likely have to spend some free agency cash to at least safely address 2 of the 3 most critical roster holes facing the franchise this offseason: dynamic wide receiver/tight end, pass rusher, and left tackle (with quarterback potentially catapulting to the top of the list if the team actually moves on from Wentz).
While the Colts will assuredly miss Doyle’s reliable hands, versatile blocking, and veteran leadership in the locker room, his freed up salary cap space could ultimately help in their pursuit of filling some of the team’s most glaring roster deficiencies right now—and potentially with a premier free agent or two at that.