The Indianapolis Colts have released kicker Matt Gay, which freed up a bit of salary cap space for the 2025 season.
Before being released, Gay was heading into Year 3 of a four-year deal that he had signed with the Colts. With a total contract value of $22.5 million, Gay became the highest-paid free agent kicker in NFL history.
By moving on from Gay, he will leave behind a dead cap hit of $4 million for the upcoming season. But in total, the decision created $2.75 million in cap space with Gay having a cap hit if on the roster of $6.