Colts start spending, adding receiver Devin Funchess

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The Colts have more than $100 million in cap space, but they won’t be breaking the bank. On Monday, they mildly fractured it.

Per multiple reports, the Colts have agreed to terms with receiver Devin Funchess. It’s a one-year deal with a maximum value of $13 million. The base value will be lower than that, perhaps considerably.

A second-round pick of the Panthers in 2015, Funchess has 161 career catches for 2,233 yards and five touchdowns.

The Colts haven’t done much on the first day of the legal tampering period, opting to take their time. With Funchess, however, they opted to move quickly. And to pay him a lot of money, if he hits his various performance triggers.