The Colts have tried to set themselves up well for a run at the AFC South by trading for quarterback Matt Ryan.
Now they’ve also moved some money around to potentially bring in more players.
According to ESPN’s Field Yates, the Colts have converted $12 million of Ryan’s 2022 compensation into a signing bonus, creating $6 million of cap space.
The move reduces Ryan’s cap number to just over $18.7 million for the coming season.
Ryan was traded to Indianapolis after 14 seasons with Atlanta. He met with the Colts’ brass over the weekend, which made him feel comfortable enough to pursue a fresh start in the AFC.
Ryan completed 67 percent of his passes last season for 3,968 yards with 20 touchdowns and 12 interceptions. It was the first time he hadn’t thrown for at least 4,000 yards since 2010.