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According to NFL Network’s Tom Pelissero, the Indianapolis Colts are projected to have a set total salary cap of $224.8M in 2023—along with every other NFL team:
The NFL informed teams today that the 2023 salary cap will be a record $224.8 million per club, sources tell me and @RapSheet.
— Tom Pelissero (@TomPelissero) January 30, 2023
That’s up from $208.2 million in 2022, $182.5M in 2021 (COVID adjustment), 198.2M in 2020 and $188.2M in 2019.
The Colts have roughly $13M of total available team cap space, and that number is expected to only rise—as veteran starting quarterback Matt Ryan’s release could free up another $17.2M of total available team salary cap space.
The Colts do have some priority free agents to highly consider re-signing including defensive end Yannkick Ngakoue, linebacker Bobby Okereke, wide receiver Parris Campbell, linebacker E.J. Speed, and place kicker Chase McLaughlin.
However, that roughly $30M of available team salary cap space (*also predicting a Matt Ryan release here) does give the Colts the opportunity to meaningfully fill a key hole or two—or retain some of their own, this offseason (at least in a vacuum).
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