$167.000m = NFL 2017 Salary Cap
$006.614m = 2016 Unused 2016 Colts Cap
$173.614m = 2017 Colts Salary Cap
$114.292m = Current Top 51 Player Cap Hits
$001.080m = Adding players #52 and #53 to Player Cap Hits
$006.224m = Estimated 2017 Colts Draft Pool Cap Hits
$001.376m = Dead Money
$001.224m = Practice Squad ($7,200 per week x 10 players x 17 weeks)
$124.196m = Current Cap Obligations
$49.418m Free Cap Space
Need to take away about $3.000m for in-season "churn" space for when a player goes on IR and a player from the practice squad is "brought up" to the active roster.
We don't yet know the structure of Jack Doyle's new contract. If we assume that it is pretty straight line, then subtract $6.333m in available cap space.
[COLOR="Green"][SIZE="5"]$40.085m[/SIZE][/COLOR] in Free Cap Space to sign new free agents.
Go get em, Ballard!