Colts Revise Ryan Kelly’s Contract
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. 
[RELATED: Colts Place Hilton On IR]
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%.
Raiders, Yannick Ngakoue Rework Deal
The Raiders have restructured Yannick Ngakoue‘s contract (Twitter link via Field Yates of ESPN.com). The defensive end will have $12MM of his salary converted into a signing bonus to free up $8MM in cap room for the Raiders. The Raiders also added three void years to the deal to make it all work.
The will allow the Raiders to add KJ Wright and his new contract to the books. Plus, they’ll have extra cash to upgrade elsewhere during the year.
Ngakoue inked a two-year, $26MM deal with the Raiders back in March. The basics of the pact remain unchanged — Ngakoue will earn the same amount of money and remain under club control until the spring of 2023.
Jon Gruden has long been a fan of Ngakoue. Ditto for old friend Gus Bradley, his defensive coordinator in Las Vegas. The Raiders hope that Ngakoue will help to restore their once feared pass rush, which hasn’t been the same since the Khalil Mack trade.
Ngakoue, 26, is set to enter his sixth season as a pro. With 45.5 career sacks to his credit, he’s a potential difference-maker — even if the Ravens didn’t use him all that much in the playoffs. He’s not particularly strong against the run, but he averaged over nine sacks per season over his first four years in the league, and he has also demonstrated some serious play-making ability. He forced 14 fumbles in that stretch and he was directly responsible for five of the 12 defensive touchdowns the Jaguars scored between 2016 and 2019.
Raiders To Sign RB Peyton Barber
The Raiders are signing Peyton Barber off of the Washington Football Team’s practice squad, according to a source who spoke with Ben Standig of The Athletic (on Twitter). Now, the running back will join the 53-man roster in Las Vegas. 
[RELATED: Raiders Wanted Freeman]
The Raiders previously tried to claim Royce Freeman off waivers, but lost out to the Panthers due to waiver priority. Barber’s still a solid consolation prize, considering his past work. Back in 2018, he led the Buccaneers in rushing (871 yards), staving off Ronald Jones in the process.
However, Barber played on just 18% of Washington’s offensive snaps in 2020 and was on the field on 30% of Washington’s special teams plays. The 225-pound running back averaged a career-low 2.7 yards per carry last season, gaining 258 yards on 94 rushing attempts. He missed Washington’s final cut and settled for their practice squad. Now, he’ll have a chance to see the field in Week 1.
Barber will support top RBs Josh Jacobs and Kenyan Drake while Jalen Richard rehabs his injured foot.
Ravens, Raiders Wanted Royce Freeman
With J.K. Dobbins out for the season, the Ravens tried to claim Royce Freeman (Twitter link via Adam Schefter of ESPN.com). Ditto for the Raiders, Yates hears, but the Panthers ultimately nabbed Freeman on Thursday thanks to their higher waiver priority. 
For the Ravens, it’s a sign that they’re not entirely confident in their current options. For now, their RB group consists of Gus Edwards with support from third-year scat-back Justice Hill and 2020 UDFA Ty’Son Williams. It’s possible that Williams would have been let go if Freeman was claimed, despite his strong summer. Edwards profiles as the team’s RB1 for now and his 5.2 career ypc shows that he can do damage. Still, he’s never carried an RB1 workload before.
The Raiders — the Ravens’ Week 1 opponent — would have slotted Freeman behind Josh Jacobs and newcomer Kenyan Drake. That role was ticketed for Jalen Richard, but he’ll start the year on IR thanks to a foot injury.
Instead of Baltimore or Vegas, Freeman will head to Carolina. He’ll slot behind Christian McCaffrey and rookie Chuba Hubbard as he takes Trenton Cannon‘s place on the team. Freeman wasn’t much of a factor last year, but he has 297 career carries to his credit for 1,187 yards and eight touchdowns.
Cardinals Place Jordan Phillips On IR
Just a few days ago, the Cardinals activated Jordan Phillips from the reserve/COVID list. On Thursday, the Cardinals parked him once again, this time on injured reserve. In a related move, offensive lineman Justin Pugh has been brought back from the COVID list.
Phillips was dealing with an undisclosed injury throughout the summer and his condition still isn’t quite clear. Last year, a balky hamstring let to two separate IR stints and a total of seven missed games. In his nine contests, Phillips registered two sacks and eleven total stops from the right defensive tackle spot.
The Cardinals furnished Phillips with a three-year, $40MM in 2020 that included $18.5MM guaranteed. Phillips enjoyed a remarkable turnaround in Buffalo, but Arizona has yet to see him at his best. In 2019, his last healthy season, he tallied 9.5 sacks and 16 quarterback hits for the Bills.
Jaguars Place Tavon Austin On IR
The Jaguars have placed wide receiver Tavon Austin on injured reserve, per a club announcement. The team did not disclose Austin’s injury, but the issue will keep him sidelined for an extended period.
It’s a frustrating setback for Austin, who lost time to injury last year with the Niners. He healed up later in the season to join the Packers, but didn’t see a ton of snaps in Green Bay. All in all, he finished with five catches for 20 yards across four games as a Packer.
Austin, the eighth overall pick of the 2013 draft, has been used more as a gadget player and returner than a true receiver in recent years. He was expected to return punts for the Jaguars and see some time in the new-look offense, but those plans have been scuttled for now.
“He played really well Sunday,” head coach Urban Meyer told reporters on Tuesday . “We think with Joe and with Tosh, he’s a guy that it’s time to play. He’s been around and I can see the urgency in his look, in his practice and in the way he played.”
With Austin out of the picture, the Jaguars are left with five receivers in DJ Chark, Marvin Jones, Laviska Shenault, Jamal Agnew, and Tyron Johnson.
Vikings Re-Sign Britton Colquitt
Britton Colquitt wasn’t gone for long. The Vikings re-signed their punter on Thursday morning (Twitter link via Chris Tomasson of the Pioneer Press).
[RELATED: Vikings Add Mannion To Practice Squad]
Colquitt was cut on Wednesday — a real eyebrow-raiser since he was the sole punter on Minnesota’s roster. But, as we’ve seen before in the NFL, this was a short-lived hiatus.
Colquitt re-upped with the Vikes on a three-year, $9MM deal last year with $5MM guaranteed. It’s likely that his new contract is cheaper, and possibly shorter. The 36-year-old has suited up for every Vikings game over the last two years, averaging 45.1 yards per attempt. He’ll look to keep up the good work this year as he enters his 12th NFL season.
Rams, Johnny Hekker Rework Deal
Johnny Hekker is staying put. This week, the punter agreed to rework his contract in order to remain with the Rams in 2021 (via Gary Klein of the Los Angeles Times). 
[RELATED: Rams Trade Bojorquez To Packers]
The Rams had another option in Corey Bojorquez, who spent the previous three seasons with the Bills. However, on Tuesday, they shipped him to the Packers, paving the way for Hekker to stick for a tenth season. The Rams also sent the Packers a 2023 seventh-round draft pick in the deal and received a 2023 sixth-rounder in return.
This isn’t the first time that the four-time first-team All-Pro had to rework his contract. Ultimately, he was willing to sacrifice a little bit in order to stay with the only team he’s ever known.
“What Johnny’s done here…long before I got here, is something that doesn’t go lost on me, doesn’t go lost on us,” head coach Sean McVay said recently. “And I am confident that he’s going to be the productive player he’s been throughout the course of his career.”
Hekker, 31, still stands as the Rams’ longest-tenured player.
Vikings Cut Britton Colquitt
The Vikings have released punter Britton Colquitt, per the league’s transactional wire. It’s a surprising cut, especially since Colquitt was the sole punter on the Vikings’ roster.
Colquitt re-upped with the Vikes on a three-year, $9MM deal last year with $5MM guaranteed. The 36-year-old has suited up for every Vikings game over the last two years, averaging 45.1 yards per attempt. There’s no word yet on who might replace Colquitt. It’s also possible that he’ll be brought back on a cheaper/shorter contract.
All in all, Colquitt has eleven seasons under his belt between the Broncos, Browns, and Vikings. Given his body of work, he’ll likely find a deal from some team in the coming weeks.
Colts To Place T.Y. Hilton On IR
T.Y. Hilton recently underwent surgery, according to GM Chris Ballard. As a result, the Colts will be forced to move the wide receiver to injured reserve to start the year (Twitter link via Stephen Holder of the Indy Star). 
Hilton suffered an undisclosed upper back/neck injury in practice recently. It’s a frustrating setback with lousy timing, but Ballard says that Hilton is already starting to feel better.
Hilton, of course, is a team icon who currently ranks third on the Colts’ all-time receiving yards list. He has spent his entire career in Indianapolis since being selected in the third round of the 2012 draft. The two sides avoided divorce this year, even after allowing Hilton to reach the open market.
While Hilton is out, the Colts will turn to Michael Pittman, Parris Campbell, and Zach Pascal for offensive firepower. They might be able to get by for now, but they’ll surely miss Hilton’s deep threat potential and experience in the coming weeks.