According to NFL Network’s Tom Pelissero, the Indianapolis Colts have restructured defensive tackle DeForest Buckner’s contract to create an extra $2.5M of team salary cap space this upcoming season:
The #Colts converted $5 million of DT DeForest Buckner's salary this season into a signing bonus, clearing $2.5M in cap space. He'll still make $19.75M, which is now fully guaranteed.
— Tom Pelissero (@TomPelissero) April 12, 2023
Currently, the Colts have a projected $22.M of total available team salary cap space and don’t appear inclined to spend a significant chunk of it in the leftover waves of free agency—with almost all top free agents having already been signed to other teams (*although former Indy starting cornerback Rock Ya-Sin is still available).