The Indianapolis Colts are navigating their salary cap strategy following the first wave of NFL free agency, with a notable focus on their key players' contract structures. Charvarius Ward and Cam Bynum were significant additions, showcasing a backloaded contract approach that minimizes their immediate cap hits. Currently, the Colts hold $20.94 million in available cap space, placing them 21st in the league rankings.

It's important to note that this figure isn't fully available for free agency due to upcoming expenses, including the signing of draft picks and maintaining in-season reserves. As the Colts prepare for the draft, they still have 21 roster spots to fill, allowing flexibility for potential additional veteran signings without severely impacting their salary cap. The team's largest projected cap hits for 2025 include key players like DeForest Buckner, Michael Pittman Jr., and Quenton Nelson, indicating the organization's commitment to building around a core of established talent.