The Colts have converted $9MM of Ryan Kelly‘s salary into a signing bonus (Twitter link via Field Yates of ESPN.com). As a result, they’ll have an additional $6.75MM in cap room to work with. 
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Kelly, who was recently activated from the reserve/COVID-19 list, signed a four-year, $50MM re-up with the Colts exactly one year ago. The former first-round pick received $34MM in guaranteed cash as a part of the deal, making him the highest-paid center in the league at the time of signing. He’s since been leapfrogged by Frank Ragnow (Lions; $13.5MM) and Corey Linsley (Chargers; $12.5MM).
The Colts drafted Kelly No. 18 overall in 2016. The Alabama product made his first Pro Bowl in 2019 as the Colts placed third in Pro Football Focus’ O-line rankings. He earned Pro Bowl nod N0. 2 last year and the Colts are hoping for more of the same, especially with star guard Quenton Nelson at less than 100%.