The Indianapolis Colts released kicker Matt Gay on Thursday, two years after signing him to a four-year, $22.5 million contract.
Gay, 31, has converted 82.1% of his field goal attempts (64 of 78) and 98.6% of his extra point attempts (68 of 69) in two years with the Colts after signing with the team as a free agent in 2023.
The Colts save $2.75 million against the salary cap with the move, which also results in a $4 million dead money charge for the team.
He earned the contract with Indianapolis after a stellar three-year run with the Los Angeles Rams, when he converted 92.