Colts add substantial amount of cap space in shocking move

This move opened up nearly $13 million in current cap space, and according to Joel Erickson of the Indy Star, the Colts now have $29,051,331 available in cap space. 

I think It's important to note that this is not a process the Colts have been willing to do in recent years. Using void years in contracts to open up more cap space for teams to utilize isn't new. Teams across the NFL have been using it strategically for years, but I honestly can't think of a time that the Colts have ever utilized void years, which has me thinking this could help the Colts make an additional move. 

With the 2024 NFL Draft just eight days away, it's hard to see the Colts or any free agent looking to sign a contract until that concludes. But the Colts have a few needs that, if they can't land a potential starter in the draft, I think the free agency market could make a lot of sense for them to utilize. We will have to wait and see if the Colts choose to utilize their newfound cap space to improve their roster or if they will roll the funds over to 2025.