Two players account for $8.3 million dead money against Colts salary cap

Two players account for $8.3 million dead money against Colts salary cap

The Indianapolis Colts find themselves in solid standing with the 2024 salary cap, but they also have a pair of players accounting for some dead money.

In short, dead money refers to the money the Colts still owe players currently not on the roster. Typically, it comes in the form of guaranteed signing bonuses or base salaries for players who were released before the end of that contract.

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Amid the 2024 offseason, the Colts have two players accounting for just over $8.3 million in dead money, per Over The Cap.

One of them, linebacker Shaquille Leonard, accounts for $8 million of that number. When Leonard signed his five-year, $98.5 million contract extension in 2021, he received a $20 million signing bonus.

The amount of that bonus is spread out over the length of the contract in terms of the salary-cap charge—$4 million each season. Leonard gets it right away, relatively speaking, but the team spreads out the charge. Because Leonard was released in 2023 with two seasons technically left on the contract, the Colts are still on the hook for the remaining $8 million.

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The other relatively significant salary-cap charge with regard to dead money is the $268,245 the Colts owe cornerback Darius Rush. The fifth-round pick in 2023 didn’t make the initial roster after training camp.

Rush’s rookie contract included a signing bonus of $357,660. The Colts are on the hook for the remaining $268,245 of that for the 2024 season.