The Indianapolis Colts made the signing of cornerback Stephon Gilmore official this week and with that comes an update to their salary-cap space.
Before the Gilmore signing, the Colts had just over $20 million or so in cap space. That was the second-most in the NFL. After signing the former Defensive Player of the Year to a two-year deal, which we previously broke down, the Colts are right around the league average.
According to Over The Cap, the Colts are sitting with roughly $13.49 million in salary-cap space. That’s good for 17th-most in the NFL.
With their current slate of draft picks, the Colts will need roughly $2 million or so to pay their players. So they have an “effective cap space” of around $11.8 million.
Most of the additions from here on out are likely to be depth signings. The Colts could still bring back T.Y. Hilton on a one-year deal or add another veteran wideout following the draft.
It’s also expected that left guard Quenton Nelson will be getting his massive extension at some point before the regular season starts.
Even with some big moves made this offseason, the Colts find themselves in a solid standing with the salary cap entering the draft.
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