The Indianapolis Colts have put real money behind two of their biggest recent moves, and the price tag is starting to come into focus.
Between the extension for Jonathan Taylor and the one-year addition of Keenan Allen, the team has committed a maximum of more than $52 million. But that headline number comes with some moving parts, especially in Taylor’s deal, where nearly $17 million could eventually come off the books.
Taylor signed a two-year, $44 million extension on Aug. 6, a contract that keeps him tied to Indianapolis through 2028. For now, it guarantees him $23 million this season. That figure includes his $6.98 million base salary and a $15 million signing bonus, with another $2 million available through incentives, according to spotrac.com.
The more important dates are still ahead. Taylor’s 2027 compensation of approximately $16 million becomes guaranteed in mid-February. If the Colts were to move on before that trigger, they would take on $10 million in dead money while opening up $11 million in cap space.
The tougher call could come in 2028, when the financial picture shifts. Taylor would be 29 and entering his ninth season, and the extension carries a $22.98 million cap hit. That number includes a non-guaranteed $9.46 million base salary and a $7.5 million roster bonus due on the fifth day of the 2028 new league year.
If the Colts cut ties before 2028, they would save $17.98 million against the cap and absorb $5 million in dead money, which is the prorated portion of his signing bonus.
“It’s a commitment,’’ Taylor said of the extension. “It’s a commitment not only to myself and my family, but like I’ve said throughout the years, I’ve wanted to be here for the rest of my career. We all had the same common goal.”
Allen’s deal finally brought weeks of speculation to an end. The veteran receiver signed a one-year contract worth a maximum of $8.32 million.
His cap hit is a modest $3.32 million, based on a guaranteed $1.3 million base salary, a $1.51 million signing bonus and $510,000 in per-game roster bonuses. He can also make another $5 million through incentives.
That’s a very team-friendly number for a player the Colts expect to matter plenty in a Daniel Jones-led offense. Allen, 34, was still productive last season with the Los Angeles Chargers, leading the team with 122 targets and 81 catches for 777 yards and four touchdowns.
Allen said Shane Steichen played a major part in bringing him to Indianapolis. The two worked together for seven seasons with the Chargers.
“Definitely the right situation,’’ Allen said. “I wanted to play. I wasn’t stressed about it, but I wanted to play.
“Once this came about and, you know, my relationship with Shane and the knowledge of the offense, it made it easy.’’
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