The Indianapolis Colts made a statement quickly following the suspension of Isaiah Rodgers Sr., opting to waive the young cornerback due to his violations of the league’s gambling policy.
Rodgers Sr. was entering the final year of his rookie contract and was set to make $2.7 million. He was also playing for the opportunity of a second contract either with the Colts or elsewhere.
By waiving Rodgers Sr., the Colts saved $2.7 million against the salary cap, bringing their cap space up to $25.2 million, according to Over The Cap. That number ranks fourth-highest in the NFL behind the Chicago Bears ($32 million), Arizona Cardinals ($26.7 million) and Carolina Panthers ($26.6 million).
There is also a chance the Colts look to recoup the $36,281 that remains as dead money from Rodgers’ prorated signing bonus, but that wouldn’t have much of an impact on their cap situation. And it isn’t clear how they feel about making that move.
It was a costly mistake for Rodgers Sr., whose career is now in jeopardy. He’s young enough for a team to take a shot on him if he proves he’s moved on from his mistake, but no team will consider it until after the 2023 season has concluded, which is when he can apply for reinstatement.
With this amount of cap space, the Colts will have plenty of money to get some potential contract extensions coming up for players like Jonathan Taylor, Michael Pittman Jr., Grover Stewart and Julian Blackmon.
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