With the salary cap set at 224.8M and the Colts carrying over around 6.6M, their real salary cap limit is around 231.4M. As it stands, they have 216.1M in liabilities of their top 51 highest salaries on top of 4.1M in dead cap space. That puts the estimated amount of cap space at this moment at around 11.2M.
Potential Cap Casualties
If Matt Ryan decides to retire the Colts would gain an additional 29.2M in salary cap space. It’s almost a certainty that Ryan will be gone and with reports surfacing that he is looking to get into broadcasting, it looks like retirement is also likely for him.