The Indianapolis Colts slightly restructured the contract of defensive tackle DeForest Buckner in an attempt to save some money against the salary cap.
A move that was highly anticipated throughout the offseason, the Colts reportedly converted $5 million of Buckner’s base salary in 2023, which saves them $2.5 million against the cap, per Tom Pelissero of NFL Network.
The #Colts converted $5 million of DT DeForest Buckner's salary this season into a signing bonus, clearing $2.5M in cap space. He'll still make $19.75M, which is now fully guaranteed.
— Tom Pelissero (@TomPelissero) April 12, 2023
Because the Colts converted $5 million of his $18.75 million base salary, that will be spread out over the remainder of Buckner’s current contract, which is two more seasons. So the Colts save $2.5 million against the cap this season, but it will add $2.5 million to Buckner’s cap hit in 2024.
The Colts could have converted the entire base salary, which would have saved them nearly $10 million against the cap this year. It also would have added that same amount to the cap next year, but that’s workable with a rookie quarterback contract.
There are several reasons why the Colts might have done this. Maybe they’re closing in on a free-agent signing at cornerback or offensive line.
Or the more fun hypothetical situation is that the Colts are clearing cap space for an incoming rookie quarterback. That’s pure speculation, but it’s educated speculation considering the buzz we’ve heard throughout the offseason.
Regardless, the Colts added a bit more space in their standing with the salary cap, and Buckner got $5 million more in guaranteed money.
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