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Colts Capology: Where do the Colts stand Salary Cap Wise after Stephon Gilmore’s New Deal?

Carolina Panthers v Atlanta Falcons Photo by Mark Brown/Getty Images

The contract details for new Indianapolis Colts Pro Bowl cornerback Stephon Gilmore have officially emerged—after a few days of speculation:

It now raises the question of where the Colts stand salary-cap wise, after providing Gilmore such a lucrative (but still fairly team friendly) multi-year deal.

Per, the Colts now have a projected $13.5M of available team salary cap space (which also takes into account veteran safety Rodney McLeod’s recent signing of a 1-year contract of $1.770M too).

Still, a remaining ‘X-factor’ here could be projected 2023 prized free agent Quenton Nelson’s looming long-term mega-contract extension, which could either increase or decrease the team’s current salary cap space, depending on how the Colts elect to structure it (and would assuredly make him the highest paid guard in league history):

For all of the talk that Colts general manager Chris Ballard ‘never spends money’, Indianapolis doesn’t actually have all that much salary cap space remaining, relatively speaking. It’s a team that could still use some cheaper veteran signings to help bolster its lost depth on both the offensive and defensive line too respectively.