Despite public perception they are cap strapped, when NFL free agency begins on March 7, the Eagles should have enough cap to sign just about any free agent they want.
According to OverTheCap.com, the Eagles currently have around $10 million in cap space.
That number will go up, however, assuming the Eagles cut these players:
Defensive end Connor Barwin: $7.75 million in new cap space
Running back Ryan Mathews: $4 million in new cap space
Linebacker Mychal Kendricks: $5 million in new cap space
By moving on from Barwin, Mathews and Kendricks, the Eagles will open up an additional $16.75 million in cap space, bringing their total to around $26 million in free cap to spend on free agents.
The ideal Eagles’ 2017 roster
While that might not sound like much, that is enough money for the Eagles to do basically whatever they want because of how easy the NFL cap is to maneuver around.
Take the contract given to former Eagles receiver Jeremy Maclin two seasons ago.
During the 2015 offseason, Maclin was given 5-year, $55 million deal from the Kansas City Chiefs, with $22.5 million guaranteed and an average value of $11 million.
That massive deal made Maclin one of the highest paid wide receivers in the NFL, and even two years after the deal, has him as the sixth-highest paid at his position in 2017.
The cap hit in the first year of Maclin’s deal? $3.4 million.
A number that would take up roughly 10% of the Eagles’ cap this offseason — and a deal that is very close to the one a player like Kenny Stills will likely demand this offseason.
Of course, the cap hits in Maclin’s deal go up after the first year, but the Eagles are well set up to hand out deals this offseason with low hits the first year, then rise significantly over the coming years.
Carson Wentz at Super Bowl
The Eagles currently have around $5 million in cap space in 2018.
That number, however, will skyrocket before the Eagles even kickoff the 2017 season.
Currently on the books for the Eagles in 2018 are Barwin ($10.25 million), Kendricks ($7.6 million), Chase Daniel ($8 million) and Jason Peters ($11.25 million). There is a strong chance none of them are on the roster in 2018 at those numbers, if at all.
Those cap hits add up to an extra $37 million in cap space, giving the Eagles roughly $41 million in cap space for the 2018 offseason before they sign a single free agent this offseason. It is also very likely the NFL salary cap will rise, which would also increase their salary cap space.
Mike Mayock’s draft rankings
If the Eagles and out two contracts this offseason with annual values of $11 million each, the team will still have $19 million in cap space next offseason.
As for the 2019 offseason? The Eagles currently have $71 million in cap space.
So what does this all mean?
All the Eagles need to do is structure deals handed out with a low cap hit in 2017, then when their financial picture opens up in 2018 and beyond, have the cap hit increase.
Of course, players might decide not to sign with the Eagles, or other teams with more cap space right now might outbid the Eagles. You can also argue whether or not giving out deals that balloon in the final years is the best way to manage the cap.
If the Eagles decide to hand out big contracts this offseason — to players like Stills, cornerback A.J.Bouye or whoever else they want to sign — they can do it.
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Eliot Shorr-Parks may be reached at eshorrpa@njadvancemedia.com. Follow him on Twitter @EliotShorrParks. Find NJ.com Eagles on Facebook.
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