Colts to have about $41 million in cap space

INDIANAPOLIS -- The salary cap has been set. Now it's up to Indianapolis Colts general manager Ryan Grigson to make the right financial decisions with the money they have available.

The NFL salary cap for 2014 is $133 million, which is $10 million more than last season. That means the Colts will have about $41 million in cap space -- fourth most in the league -- to re-sign their players and improve the roster from the outside. Indianapolis' cap number is $92,903,156.

Grigson said in January that they were going to be smart and not spend just to spend because they have the money available. He reiterated the same thing during the scouting combine on Feb. 21.

“It’s not hard to tighten your belt when you’re looking at what we’re looking at in ’15 and ’16. In future years, we have some key, key young talent -- not to even give you any names; you know who they are -- that we’re going to have to re-sign,” Grigson said at the time. “So we have to be very prudent and fiscally sound in how we move forward. We still have a plan in place and if there’s a chance for us to get better at any position group, we’re going to try to get better, if it makes sense from a fiscal standpoint for the club.”

Re-signing cornerback Vontae Davis and improving the interior part of the offensive line are two priorities for the Colts during free agency.