The Colts announced that they will release veteran linebacker Shaun Phillips. Phillips had been signed by the Titans last season and waived in late November. The Colts claimed his contract on waivers to try to plug some holes on defense. He was set to make $2.65 million, all of which will be come off the Colts salary cap.
This is the second “name” release by the Colts in the last few days (safety LaRon Landry being the other) as they clear off the books in preparation for free agency and a possible extension for Andrew Luck. The Colts are getting close to $40 million in expected cap room and can probably cross that threshold if they release Trent Richardson. Richardson has a $3.184M cap hit that had been fully guaranteed but his suspension voided that guarantee, giving the Colts the clearance they need to move on. Some other big cap savings possibilites in Indianapolis include Donald Thomas ($3.25M), Greg Toler ($5.5M), and Erik Walden ($3.75M).
The Colts have been active in free agency the last few seasons, but the team has been criticized for many of the personnel decisions that they have made following bad playoff losses each of the last few seasons. They would seem to be setting up for another big free agent haul this offseason.
Jason is the founder of OTC and has been studying NFL contracts and the salary cap for over 15 years. Jason has co-authored two books about the NFL, Crunching Numbers and the Drafting Stage, which are widely circulated in the industry and hosts the OTC Podcast. Jason’s work has been featured in various publications including the Sporting News, Sports Illustrated, NFL Network and more. OTC is widely considered the leading authority on contract matters in the NFL.