The real trade details
Let’s start with the common knowledge about the trade.
The Indianapolis Colts traded a 3rd round pick in the 2021 NFL Draft and a conditional 2nd round pick in the 2022 NFL Draft. Here is where it gets interesting, that 2nd round pick becomes a 1st round pick if Carson Wentz either:
-Plays 75% of the snaps
-Plays 70% of the snaps and the team makes the playoffs
What that really means
Since 2012 there has only been one season where a quarterback hasn’t played 75% of the snaps or more for the Indianapolis Colts. That was back in 2015 when Andrew Luck starting getting injured and it began the slow descent towards his retirement.
In all likelihood that means that this deal is Carson Wentz for a 1st round pick (2022) and a 3rd round pick.
What comes along with that deal is his contract. The Colts have plenty of cap space and they were always going to have to spend to get a quarterback. However, they are picking up a deal that starts with $25 million all guaranteed in 2020.
That number might not seem like much, but a better way to describe it is nearly 40% of the cap space they had in 2020.
Normally having the 4th most cap space is a good thing, but keep in mind that the Colts are still missing a left tackle, a WR1, two starting EDGEs, and two of their top three cornerbacks.
Those are some expensive positions to fill.
And if they think they can take minimal cap hits in 2021 and backload them for 2022, they need to remember that Darius Leonard, Quenton Nelson, and Braden Smith are up for new contracts as well.
It will be very interesting to see what happens with the Colts during this free agent process…