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Colts’ biggest salary-cap hits entering 2024 offseason

The Indianapolis Colts are coming off an encouraging season in the first campaign under head coach Shane Steichen.

Though they narrowly missed out on the playoffs, the fact that they were in the hunt until the final game of the season with a backup quarterback proves how far this team has come since the disastrous 2022 season.

Most of the offseason attention will be spent on the 2024 NFL draft, in which the Colts hold the No. 15 overall pick. However, they also are among the leaders in salary-cap space entering the offseason.

When taking a look at some of these cap hits, they include roster bonuses that don’t go into effect until March but since they are on the roster as of this writing, we’ll assume they will be until something changes.

Though the Colts aren’t in desperate need to add more cap space, some of these contracts could be offloaded or restructured.

Before getting into those potential decisions, here’s a quick look at the biggest salary-cap hits for the Colts entering the 2024 offseason, via Over The Cap.

G Quenton Nelson: $25.2 million

Trevor Ruszkowski-USA TODAY Sports
Trevor Ruszkowski-USA TODAY Sports

DT DeForest Buckner: $22.75 million

Bob Donnan-USA TODAY Sports
Bob Donnan-USA TODAY Sports

RT Braden Smith: $16.7 million

Jenna Watson/IndyStar
Jenna Watson/IndyStar

C Ryan Kelly: $14.63 million

Jenna Watson-USA TODAY Sports
Jenna Watson-USA TODAY Sports

RB Jonathan Taylor: $10.88 million

(Photo by Michael Hickey/Getty Images)
(Photo by Michael Hickey/Getty Images)

LB Shaquille Leonard: $8 million (dead cap)

Jenna Watson/IndyStar
Jenna Watson/IndyStar

DE Samson Ebukam: $7.7 million

Robert Scheer/IndyStar
Robert Scheer/IndyStar

QB Anthony Richardson: $7.7 million

(Photo by Andy Lyons/Getty Images)
(Photo by Andy Lyons/Getty Images)

K Matt Gay: $5.9 million

(Photo by Andy Lyons/Getty Images)
(Photo by Andy Lyons/Getty Images)

TE Mo Alie-Cox: $5.92 million

(Photo by Justin Casterline/Getty Images)
(Photo by Justin Casterline/Getty Images)

LB E.J. Speed: $5.46 million

(AP Photo/Darryl Webb)
(AP Photo/Darryl Webb)

DE Kwity Paye: $4.3 million

Bob Donnan-USA TODAY Sports
Bob Donnan-USA TODAY Sports

WR Ashton Dulin: $3.68 million

Tim Heitman-USA TODAY Sports
Tim Heitman-USA TODAY Sports

LB Zaire Franklin: $3.36 million

Trevor Ruszkowski-USA TODAY Sports
Trevor Ruszkowski-USA TODAY Sports

TE Kylen Granson: $3.17 million

(Photo by Alex Grimm/Getty Images)
(Photo by Alex Grimm/Getty Images)

G Will Fries: $3.01 million

(AP Photo/Terrance Williams)
(AP Photo/Terrance Williams)

DE Dayo Odeyingbo: $1.97 million

Grace Hollars-USA TODAY Sports
Grace Hollars-USA TODAY Sports

CB Julius Brents: $1.86 million

(Photo by Andy Lyons/Getty Images)
(Photo by Andy Lyons/Getty Images)

WR Alec Pierce: $1.8 million

Trevor Ruszkowski-USA TODAY Sports
Trevor Ruszkowski-USA TODAY Sports

TE Jelani Woods: $1.47 million

(Photo by Michael Hickey/Getty Images)
(Photo by Michael Hickey/Getty Images)

LT Bernhard Raimann: $1.45 million

(AP Photo/David J. Phillip)
(AP Photo/David J. Phillip)

Story originally appeared on Colts Wire