With the Colts’ announcing last week that they signed second-round pick Adonai Mitchell, the team now has its entire 2024 draft class under contract.
Each rookie received a standard four-year deal that varies in total salary amount and guarantees depending on where each player was selected. As a first-round pick, the Colts will have the opportunity to pick up or decline Laiatu Laut’s fifth-year option when that time comes.
In total, the Colts’ nine-player draft class will account for roughly $10.76 million against the 2024 salary cap.
Currently, the Colts have $25.93 million in available cap space, according to Over the Cap–the 10th most in football.
There are still some additional salary cap expenses coming down the pipeline, such as needing space to assemble a practice squad and accounting for the 52nd and 53rd players on the roster because only the top 51 contracts count towards the offseason cap total.
During the season, the Colts will need cap space to account for weekly game-day elevations from the practice squad and if they need to make any additions to the roster at any point.
With that said, these are expenses that every NFL team has to deal with and are relatively minor in the grand scheme of the NFL salary cap. Salay cap-wise, the Colts sit in very good shape.
Now, whether or not the Colts are going to use any of that available cap space on a late free-agent addition remains to be seen. If there’s a position that this would make sense, it’s at safety, where there is some uncertainty and also a lack of depth with Daniel Scott out for the season. This is also a position group that still has some talented options available.
“Between now and the start of the season – there are still some good players out there,” GM Chris Ballard said after the draft. “There’s some veterans out there that can still play. We’ll dig and investigate all of them and then make a decision if we think they are the right fit for us as we go along.”
Any unused cap space that the Colts have at the end of the season will be rolled over into the 2025 offseason.
For a closer look at the contract details for each of the Colts’ rookies, follow the links below:
Laiatu Latu
Adonai Mitchell
Matt Goncalves
Tanor Bortolini
Anthony Gould
Jaylon Carlies
Jaylin Simpson
Micah Abraham
Jonah Laulu
