Indianapolis Colts 2026 Positional Spending: Offense

The Indianapolis Colts exit the weekend with mandatory minicamp (June 9-11) up next after having just wrapped the voluntary organized team activities (OTAs) portion of the calendar.

With the second wave of NFL free agency underway, where do the Colts stand in terms of positional spending for the 2026-27 season? Colts On SI breaks down their place amongst the rest of the league on offense, defense, and special teams.

Let's take a look at where the Colts stand, starting with the offensive side of the ball.

Note: All numbers reflected are cap hits via Spotrac.

Offense - $136.39 million (No. 20 in the NFL)

JT Bernie A — Oct 19, 2025; Inglewood, California, USA; Indianapolis Colts running back Jonathan Taylor (28) celebrates with offensive tackle Bernhard Raimann (79) and wide receiver Alec Pierce (14) after a touchdown in the first half against the Los Angeles Chargers at SoFi Stadium. Mandatory Credit: Jayne Kamin-Oncea-Imagn Images | Jayne Kamin-Oncea-Imagn Images

It may not seem like the Indianapolis Colts are spending a ton on the offensive side of the ball, but each of their recent big deals have a cheaper 2026 cap hit before the expected value strikes in 2027 and beyond. This cap manipulation of sorts has allowed the Colts to truly go all-in on the 2026 season, as they have the 7th-most cap space remaining with $31.6 million at their disposal.

Quarterback - $32.14 million, 10.41% of the cap (No. 14)

Colts QB — Indianapolis Colts quarterbacks Anthony Richardson Sr. (5), Daniel Jones (17) and Riley Leonard (15) prepare for drills Monday, July 28, 2025, during training camp held at Grand Park in Westfield. | Mykal McEldowney/IndyStar / USA TODAY NETWORK via Imagn Images

The Colts' three quarterbacks making up the 14th-most cap hit is almost impressive considering Anthony Richardson Sr. has a $11M cap hit as a backup.

Starting quarterback Daniel Jones earned a 2-year, $88M deal earlier this offseason, but his 2026 cap hit is only $19M, giving the Colts some room to work with. Richardson's expensive cap hit is due to being on the final year of his rookie contract, while Riley Leonard's $1.06M cap number is the second year of a sixth-round pick's rookie contract.

Running back - $20.25 million, 6.56% of the cap (No. 4)

Feb 2, 2026; San Francisco, CA, USA; Indianapolis Colts running back Jonathan Taylor (28) during AFC practice at the NFL Flag Fieldhouse at Moscone Center South Building. Mandatory Credit: Kirby Lee-Imagn Images | Kirby Lee-Imagn Images

The Colts only have rookie-contract players behind Jonathan Taylor on the depth chart, but they're Top 5 in spending at the position because Taylor has the highest cap hit among all running backs for 2026 at $15.5 million.

Day 3 (rounds 4-7) picks in the last two drafts, DJ Giddens (5th round, 2025) and Seth McGowan (7th round, 2026) are set to battle it out for the RB2 role this summer.

Wide receiver - $25.98 million, 8.42% of the cap (No. 20)

The Indianapolis Colts were essentially forced to choose between longtime leader Michael Pittman Jr. and budding star wideout Alec Pierce earlier this offseason after the latter's emergence demanded a pay raise.

The Colts kicked off the first wave of NFL free agency by signing Pierce to a 4-year, $114 million deal and subsequently traded Pittman Jr. to Pittsburgh, putting all their eggs in the rising star's basket.

Despite Pierce's massive new contract, his cap hit is only $9.2 million for 2026 before it jumps to $30M+ annually.

Tight end - $11.68 million, 3.78% of the cap (No. 24)

Star tight end Tyler Warren is already a focal point of the Colts' offense as he enters his second year in the league. Warren's $4.76 million cap hit is cheap for what his impact suggests, though that's just because he's on the early side of his rookie contract.

Once his inevitable fifth-year option runs out, a massive payday shall be in order. But for now, the Colts benefit from a team-friendly contract.

Offensive Line - $48.11 million, 15.58% (No. 21)

Big — Nov 30, 2025; Indianapolis, Indiana, USA; Indianapolis Colts guard Quenton Nelson (56) warms up before a game against the Houston Texans at Lucas Oil Stadium. Mandatory Credit: Robert Goddin-Imagn Images | Robert Goddin-Imagn Images

This 21st-most expensive cap number may not seem reflective of the Chris Ballard era, given how many resources he's spent on fortifying the offensive line over the year. However, a big reason that's possible even with Quenton Nelson and Bernhard Raimann expensively shoring up the left side of the line is due to their entire right side of the line being on rookie contracts.

Nelson has the 4th-biggest cap hit for a guard at $22.2 million, with a big payday on the horizon as he's entering a contract year in 2026. Meanwhile, Raimann's $100M extension in the summer of last offseason only has a $9.2 million hit for 2026 before it jumps up in 2027 and beyond.

The Colts' 2024 draft duo of Matt Goncalves (3rd round) and Tanor Bortolini (4th round) now have the center and right guard spots locked up as they enter the third year of their rookie contracts, whereas whichever Jalen starts at right tackle (Travis or Farmer) will be a player in the first half of their rookie contract.

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