The Colts aren't over the cap, but according to their "Miguel" (although he doesn't seem to be quite as precise over time) they currently sit about $3.5-$4M under their adjusted cap after tendering their RFA's (who all got the low ball tender). That is just about enough to sign their draftees (absent a first rounder) and cover a small in season injury cushion. They could make room for a FA signing by restructuring Manning and Harrison AGAIN, but with Manning and his receivers eating up a ton of cap once again that's unlikely to happen particularly for another #1 WR. I saw a thread on Indy Star recently that said they have the most highest paid (by contract value) at the position players on their roster of any team.
