FA $ question

[Wolf2k5]

In theory I we were to either trade or sign Romo or Spencer to clear up cap space, would we have money for FA to fill holes today? I'm not suggesting we do this but I wasn't sure I the money is gained immediately.

For example. We sign romo to long term deal at 3:59 et would we be able to sign anyone at 4? Or does it not even matter as long as we under cap by season?

 

[dueyhemlock]

I thought there was a window after signing a FA.

Say 24 hours (ex.) or what ever it is to make the needed room if necessary.

Also, doesn't the new contract need approved by the league before it affects the cap?

 

[Woods]

In theory I we were to either trade or sign Romo or Spencer to clear up cap space, would we have money for FA to fill holes today? I'm not suggesting we do this but I wasn't sure I the money is gained immediately.

For example. We sign romo to long term deal at 3:59 et would we be able to sign anyone at 4? Or does it not even matter as long as we under cap by season?

IF we extend Romo and Spencer, and let's assume we're currently around $800,000 under the cap, I think we'd probably end up being close to $16 to$18mm under the cap.

This does not include Free or Spears, of course. There are rumors that these two guys could be cut as well at some point in the future.

 

[Nation]

In theory I we were to either trade or sign Romo or Spencer to clear up cap space, would we have money for FA to fill holes today? I'm not suggesting we do this but I wasn't sure I the money is gained immediately.

For example. We sign romo to long term deal at 3:59 et would we be able to sign anyone at 4? Or does it not even matter as long as we under cap by season?

We need to be under the cap by 4, we won't be spending big when we get there though regardless of how much Spencer or Romo opens up

 

[TheFinisher]

IF we extend Romo and Spencer, and let's assume we're currently around $800,000 under the cap, I think we'd probably end up being close to $16 to$18mm under the cap.

This does not include Free or Spears, of course. There are rumors that these two guys could be cut as well at some point in the future.

If we cut Free and Spears now they would only save us $600K combined.

Romo and Spencer have a combined cap hit of over $26MM, so to answer the OPs question: yes, extending them would put us well under the cap, likey in that $16-20MM range Woods suggested above.

Once it hits 4:00 ET all teams must be under the cap and remain under it throughout the new league year.

 

[rocboy22]

being close to the cap, though, doesn't cause us to be inactive. We can still work out a deal with someone with the understanding that they can sign their contract as soon as we clear enough cap space - either by restructuring these two or with other cuts. Of course, the player would need to be willing to wait a day or so, but if they want to come here and will be paid what they want but just cant officially sign the contract for a day, I don't see it as a big deal to them.

 

[JustDezIt]

being close to the cap, though, doesn't cause us to be inactive. We can still work out a deal with someone with the understanding that they can sign their contract as soon as we clear enough cap space - either by restructuring these two or with other cuts. Of course, the player would need to be willing to wait a day or so, but if they want to come here and will be paid what they want but just cant officially sign the contract for a day, I don't see it as a big deal to them.

this is what I have been thinking. if they find a deal they want to do, then they possibly cut someone or have them wait to finalize it. obv we will be signing some free agents, not any big money ones but some moves will we made. Its surprising that no reporters have managed to pull some kind of statements today regarding contract negotiations, cap room , free agency etc...

 

[Wolf2k5]

If we cut Free and Spears now they would only save us $600K combined.

Romo and Spencer have a combined cap hit of over $26MM, so to answer the OPs question: yes, extending them would put us well under the cap, likey in that $16-20MM range Woods suggested above.

Once it hits 4:00 ET all teams must be under the cap and remain under it throughout the new league year.

Ok that's exactly what I was asking about. I wasn't sure if you needed to stay under the cap for the remainder of the season of you needed to be under by training camp

 

[xwalker]

Ok that's exactly what I was asking about. I wasn't sure if you needed to stay under the cap for the remainder of the season of you needed to be under by training camp

Between now and the start of the season, only the top 51 contracts count against the salary cap.

 

[Wolf2k5]

Between now and the start of the season, only the top 51 contracts count against the salary cap.

Any idea where we stand cap wise if this is the case? Or should I not bother with checking FA reports today? Lol

 

[xwalker]

Any idea where we stand cap wise if this is the case? Or should I not bother with checking FA reports today? Lol

Barely under that cap at this minute.

The only immediate help with the cap is a new contract for Spencer or Romo.

After June 1st they can release Free and save 7M and about 1M by releasing Spears. Some of this will be offset by the top 3 draft picks because they will get paid more than the bottom 3 players of the top 51. The net cost of adding the draft picks will be about 3M. Players drafted in rounds 4-7 normally cost less than the players at the bottom of the top 51 and therefore don't impact the top 51 cap number.