How much salary-cap space will Colts have in 2023?

The Indianapolis Colts are cleaning out their lockers this week following the conclusion of the regular season and are looking toward what should be a pivotal offseason for the franchise.

Finding a new head coach is the top priority for the team right now as well as figuring out the quarterback position. But the salary cap will play a large role in how the Colts go about their offseason moves.

The league has yet to announce what the exact salary cap will be, but reports were that it is expected to exceed $220 million this offseason, which would be the highest its ever been.

Based on a $225 million salary cap, Over The Cap has the Colts sitting with $29,461,686 in cap space, which is the 11th-most in the NFL.

That is certainly subject to change once the salary cap is officially set, and the Colts are likely to make several moves that will impact their cap space before the new league year arrives March 15.

The biggest question surrounds Matt Ryan and the quarterback position. Ryan is still under contract through the 2023 season and carries a cap hit of $35.2 million. He has $18 million guaranteed so the Colts would have to eat that money in dead cap if they released him this offseason.

It should be an interesting offseason for the Colts to maneuver, especially considering they’ve been near the top of the league in salary-cap space over the last half-decade.

We’ll see what happens, but this is where the Colts sit when it comes to salary-cap space entering the offseason.

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Story originally appeared on Colts Wire