Colts $42 Million Veteran Named Indy’s Most ‘Overpaid’ Player

Getty Indianapolis Colts running back Jonathan Taylor.

Though Indianapolis Colts general manager Chris Ballard is frugal with Indy’s salary cap space, even he can’t avoid overpaying for certain players just to keep talent in the building. That is the case with running back Jonathan Taylor, who Bleacher Report’s Brad Gagnon believes is the Colts’ most overpaid player.

“The 25-year-old has put up one great season out of four, but he’s now locked in at a cost of more than $28 million over the course of the next two years. Running backs are almost never worth that kind of scratch,” Gagnon wrote on April 10.

After holding out for a new contract early during the 2023 season, Indy gave its veteran back a three-year, $42 million deal, which included $19.3 million in guarantees and $24.5 million in injury guarantees.

Taylor’s new deal made him the fourth-highest-paid back in the NFL based on guarantees, according to Over The Cap. His $10.6 million cap hit for the 2024 season ranks sixth-highest on Indy’s roster.

Jonathan Taylor is Entering Prove-It Year With Colts

Taylor didn’t do a whole lot during the 2023 season to merit getting the bag from the Colts. But he certainly ended the season on a high note.

In 10 regular season games played, Taylor, 25, ran the ball 169 times for 741 yards — 4.3 yards per carry — and 7 touchdowns, according to Pro Football Reference. He also caught 19 passes for 153 yards and had 1 receiving touchdown.

A large chunk of Taylor’s production last season came during the final two weeks of the regular season in which he ran the ball 51 times for 284 yards — 5.5 yards per carry — and 2 touchdowns.

Despite the strong finish, Taylor was out-produced by Indy backfield mate Zack Moss for the season by way of a 183-794-5 stat line, which were career-high numbers across the board for Moss.

Moss was paid a base salary of $1.13 million for the 2023 season before taking to free agency this offseason and signing a two-year, $8 million deal with the Cincinnati Bengals.

Taylor is entering the final year of his contract in which his base salary is fully guaranteed. That means, depending on his production during the 2024 season, the Colts could cut ties with Taylor during the 2025 offseason and suffer minor cap casualties as a result.

If Indy were to cut Taylor in 2025 with a post-June 1 designation, the team would save $26 million against the cap in 2025 and 2026 combined, and would only take on $5 million in dead money, according to OTC.

So, it’s safe to say that Taylor is entering a crucial point in his NFL career, as his production during the 2024 season will significantly impact his future in the league.

If Taylor produces well next season, he could receive another extension from the Colts. If he doesn’t produce, then he could be looking for a new home in 2025.

Colts Prepping for 2024 NFL Draft

Next up on the NFL calendar is the 2024 NFL Draft, which will take place from April 25 to April 27 in Detroit, Michigan. The three-day event will be available to watch on ESPN, ABC, and NFL Network.

The Colts have one draft pick in each round of this year’s draft: No. 15, No. 46, No. 82, No. 117, No. 151, No. 191, and No. 124.