The Indianapolis Colts are releasing veteran kicker Matt Gay, the team announced on Thursday afternoon.
We have released K Matt Gay.
— Indianapolis Colts (@Colts) April 10, 2025
Gay, who had been the Colts’ kicker over the previous two seasons, signed a four-year, $22.5 million deal with the team during the 2023 offseason, an NFL record.
Releasing Gay saves Indianapolis around $2.75 million in cap space, with $4 million in dead money, according to Mike Chappell.
Colts save $2.75m under cap; $4m in dead money. Real reason had to be lack of efficiency on 50+ attempts.