Panthers receiver Devin Funchess
Jeremy Brevard-USA TODAY Sports

The Indianapolis Colts, with the highest amount of salary cap space heading into free agency, just splurged big time on wide receiver Devin Funchess.

According to ESPN’s Chris Mortensen, the Colts plan to sign Funchess to a one-year contract worth up to $13 million.

That’s right, folks. A this is a one-year deal that would initially pay Funchess $10 million, but it could be up to $13 million with incentives. Even at $10 million, that is quite the generous chunk of dough to pay a guy coming from a 2018 season that saw him tally only 549 yards and four touchdowns.

Funchess spent four seasons with the Carolina Panthers after they made him a second-round pick back in 2015. He put up a career-best 840 yards and eight touchdowns in 2017.

Now, the Colts are going to potentially pay Funchess $13 million for one season which is what No. 1 wideout T.Y. Hilton earns per year.

Needless to say, this is a rather high price to pay for a receiver with limited production in the past.