Indianapolis Colts Salary Cap: How much cap space do they have in 2021?

Indianapolis Colts general manager Chris Ballard has shown that he is capable of building a solid football team without breaking the bank.

Even after the trade of quarterback Carson Wentz from the Philadelphia Eagles, the Colts will have a sufficient amount of money to make free agent moves as well as sign their 2021 draft picks.

How much salary cap do the Indianapolis Colts have?

The Indianapolis Colts currently have the fourth-largest cap space in the National Football League (NFL).

The NFL set the salary cap at $182.5 million for the upcoming season. Before entering free agency, the Indianapolis Colts had $46,681,614 to work with and re-sign some valuable key players on their roster.

Here’s a few interesting facts. After adding on Carson Wentz’s $25.4M cap hit, the #Colts still have the 4th most cap space, $53.8M, with the 3rd lowest dead cap hit, $255K, and are the youngest roster with an average age of 25.47. Ballard has a ton of money to fill in holes.

— Stephen Reed (@NiceReedSteve) February 19, 2021

During free agency, the Indianapolis Colts re-signed veteran tight end TY Hilton to a one-year deal worth $8,000,000. Hilton said that he took the deal with the Colts even though other teams were offering him more. The Colts also re-signed running back Marlon Mack on a one-year deal worth $2,000,000.

One of the bigger free agent signings the Indianapolis Colts made was offensive tackle Eric Fisher, formerly of the Kansas City Chiefs. He was signed on a one-year deal worth $9,400,000.

Fisher is coming off a torn Achilles injury that he suffered in the AFC Championship game. Though there isn't a current date about when Fisher could make his first start with the Colts, his arrival has added some much-needed depth to their offensive line.

About a month before the draft, the Indianapolis Colts re-signed cornerback Xavier Rhodes on a one-year deal worth $6,500,000. Having signed all of the free agents they were looking to add, the Colts turned their attention to the NFL Draft.

The Colts now have $22,921,295 available to sign draft picks and any other player they wish to sign before or during training camp. The Colts drafted pass rusher, Kwity Paye out of Michigan with their first-round draft pick in 2021. Paye signed his rookie contract about ten days after getting drafted, one of the fastest deals made in the league.

Terms of Kwity Paye's four-year, fully guaranteed deal with the Colts: Signing bonus: $7,283,516Base salaries:2021: $660,0002022: $1,280,000 2023: $1,900,4402024: $2,520,660I'm old enough to remember when rookie contracts took forever to get worked out.

— Field Yates (@FieldYates) May 11, 2021

The Indianapolis Colts have enough money to sign their remaining draft picks. The Colts' cap space for 2022, though, could be quite tight, considering the deals they made in this year's free agency. But that'll depend on where the NFL decides to set up the 2022 cap space at.