Revealed: Stephon Gilmore's Contract with Colts
The Indianapolis Colts made a splash in free agency by signing cornerback Stephon Gilmore to a two-year deal. The details of the contract were revealed by Ian Rapoport on Tuesday.
Full details on the #Colts contract for new CB Stephon Gilmore:
— It’s a 2-year deal worth a base value of $20M with a max value of $23M.
— It includes $10.51M fully guaranteed and $14M in total guarantees.
— Gilmore will get a Year 1 payout of $10.02M. - Ian Rapoport on Twitter
With a max value of $23 million over two years, Gilmore's contract makes him the 18th highest paid corner in the NFL on average contract value according to Spotrac.
The Colts are still listed as having the third-most salary cap space in the NFL by Spotrac with $21.7 million. OverTheCap also has the Colts with the third-most space at $20.4 million.
Gilmore will turn 32-years old in September, and the contract would take him through his 33rd birthday if he played both years with the Colts.
Cornerbacks are typically on the decline by the time they're Gilmore's age, but he played at a high level with the Carolina Panthers last year, making his fourth-consecutive Pro Bowl despite appearing in just nine games.
Gilmore's cost of just $11.5 million per season also hedges against a rapid decline for a player of his caliber. While still being paid as a top-20 cornerback in the NFL, his salary isn't cost prohibitive if he falls quickly from that level over the next two years.
The Colts and general manager Chris Ballard had been accused of being a bit stingy with the purse strings this free agency period. But that patience appears to have paid off in the form of Gilmore.
The Colts acquired a Pro Bowl cornerback for a relative bargain.
