Three potential Colts’ salary cap casualties headed into critical 2025 offseason

The Colts could have some difficult decisions to make as it comes to three veterans coming off disappointing years for their own reasons respectively.

The Indianapolis Colts are currently sitting with a projected $28.4M of team salary cap space headed into the 2025 offseason (via OverTheCap).

Unlike last season though, there aren’t as many possible core free agents to re-sign with starting right guard Will Fries, longtime veteran center Ryan Kelly, versatile pass rushing defensive lineman Dayo Odeyingbo, and defensive starters E.J. Speed and Julian Blackmon among the biggest names of their pending 2025 internal free agent class.

That being said, the Colts could free up even more available salary cap space by releasing these three key veteran players:

Raekwon Davis, Defensive Tackle

Projected 2025 Savings: $6.46M

2025 Dead Money: $2.5M

As one of the ‘big’ external free agent signings by Indianapolis from 2024’s free agency—along with longtime veteran quarterback Joe Flacco, Davis never really got going in the interior of the Colts defensive line (even as an occasional rotational backup)—and didn’t seem to make his large presence felt (at a listed 6’7,” 325 pounds) much, if at all.

Davis missed a large chunk of Colts’ training camp with high blood pressure, and didn’t appear in the regular season opener. Perhaps that was the cause for a very quiet debut campaign in Indianapolis during 2024. It was much out-of-place veteran Taven Bryan who saw the backup nose tackle snaps initially behind Grover Stewart to begin this past year—and the run defense clearly suffered.

The former Miami Dolphins’ 2nd round pick, Davis, would eventually see more snaps, but none of them were seemingly all that notable. He finished with a very poor +37.0 overall grade by PFF during all 17 games for the Colts this past year, good for 202 best among all interior defenders (and included a highly disappointing run defense grade of just +38.5).

The idea was that Davis would spell veteran Grover Stewart more as a quality 1T backup and shore up the Colts run defense rotationally (and even appear in short-yardage/jumbo packages to clog the middle)—but neither really seemed to happen or nearly enough.

It wouldn’t be surprising if he doesn’t return, as the Colts find a cheaper backup run stuffer and space eater at nose tackle elsewhere.

Samson Ebukam, Defensive End

Projected 2025 Savings: $7.49M

2025 Dead Money: $3M

The Colts starting defensive end suffered a season-ending torn Achilles during a full squad training camp practice in late July of this past year. It was disappointing because the Colts’ returning sacks leader (with 9.5 sacks) had an impressive debut campaign in Indianapolis during 2023, as he earned a +84.4 overall grade from PFF—including a +80.0 run defense grade.

When healthy, the Colts missed his ability to set the edge in run defense, but turning 30 years old in May, coming off a significant injury that can sap explosiveness, and playing in a new defensive coordinator’s scheme, could Ebukam become a possible salary cap casualty?

Given the unfortunate injury and his rock solid play a season ago, this one wouldn’t exactly sit right, but the NFL can be a cold-hearted business at times. Plus, perhaps, the Colts could use the savings to re-sign the younger Odeyingbo, who turns 26-years-old in September?

Braden Smith, Right Tackle

Projected 2025 Savings: $16.75M

2025 Dead Money: $3M

This could be more of a ‘retirement’ than cutting situation, as the Colts veteran right tackle has battled through a myriad of injuries over the past few years and missed the team’s last 3 regular season games attending to an undisclosed ‘non injury related - personal matter’—eventually ending 2024 on the team’s non-football/illness list.

Smith has had to do strenuous rehab and persevere through a lot of pain and lingering injuries just to get ready for game days for the Colts at starting right tackle.

Originally a 2018 2nd round pick of the Colts, Smith has been one of the better draft picks of longtime general manager Chris Ballard’s tenure—with 92 career starting during his 7-year career and largely playing pretty good starting right tackle play during that same span.

There’s been at least a few years where he’s been worthy of a first-career Pro Bowl nod.

However, Colts’ rookie 3rd round pick Matt Goncalves held his own during 333 total snaps at right tackle this past season (and with a +65.9 overall grade by PFF collectively)—and it was the starting right bookend spot he looked most comfortable out there.

In comparison, Smith registered a +66.2 overall grade by PFF last year, which was a career low grade. For reference, his prior lowest career grade was +73.3 overall as a rookie in 2018.

With Smith limited to 22 starts over the past two seasons, perhaps Goncalves’ time as a regular starter is coming much sooner than initially expected—as the future is now at right tackle?