$15.588M Cap As Of March 20th (some players not included)

So, just enough with a restructure or two, to sign Waddle, Bowman, and Marty Bennett (who hinted that he's open to return to NE).

50-yard-line said:

So, just enough with a restructure or two, to sign Waddle, Bowman, and Marty Bennett (who hinted that he's open to return to NE).

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I prefer Delvin Breaux Marquis Flowers Marty Bennett

Ivan said:

If they are around 10 million right now they are in great shape. I expect more of Belichick using trading back to fill more needs, with that and the draft they should be in great shape.

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I don't see how we're in great shape. Players would trade for cost cap money, as do the OT and DB's we expect Belichick to sign.

Re-tweeted by Miguel, so I'm presuming this is correct.



Could be that Volin's editor told him, "start paying attention to patscap, or I'll amputate your typing finger."

mgteich said:

I don't see how we're in great shape. Players would trade for cost cap money, as do the OT and DB's we expect Belichick to sign.

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They are around 10 million but there are still plenty of moves they can make to create cap room. They have addressed a number of needs but aren’t up against the cap, I like that position, you can view it any way you want.

Ivan said:

They are around 10 million but there are still plenty of moves they can make to create cap room. They have addressed a number of needs but aren’t up against the cap, I like that position, you can view it any way you want.

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After the re-signing of M. Flowers, they're down to about $8M. Roughly $2.5M of that likely goes to rookies. At some point, another $6M+ needs to be set aside for in-season needs.

Some options for creating more cap space and estimates of space created:

Re-structure Allen = $2.5M ... Cut/trade Allen = $4.5M

Cut Gillislee = $1.7M

Extend Gronk = $3.5M ... trade Gronk = $6.5M

Re-structure/extend McCourty = $4.0M (Devin)

Re-structure/extend Brady = $7.0M / $10.5M

Extend Cooks = $3.8M ... Trade Cooks = $8.5M

Per Miguel

$10, 963, 858

before Slater, Flowers and Waddle

Slater now included. Waddle & M. Flowers not yet accounted for.

Flowers has been reported as $2.55M, though that may include incentives.
No estimates on Waddle that I've seen so far.

So, free cap space is likely somewhere between $7M - $7.5M, minus Waddle.

Out of what's left, the Pats need to be able to cover their rookies (~$2.5M) and have some left for the regular season (~$6M).

I'd guess that a cap space move or two is coming up fairly soon. At least one before the Draft.

maineman209 said:

Slater now included. Waddle & M. Flowers not yet accounted for.

Flowers has been reported as $2.55M, though that may include incentives.
No estimates on Waddle that I've seen so far.

So, free cap space is likely somewhere between $7M - $7.5M, minus Waddle.

Out of what's left, the Pats need to be able to cover their rookies (~$2.5M) and have some left for the regular season (~$6M).

I'd guess that a cap space move or two is coming up fairly soon. At least one before the Draft.

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1) If we have about $5M, no action is NEEDED before the draft, or even to sign a minor free agent or two.

2) We would likely need a restructure or waiver in order to trade for a player.

3) As you have detailed, there are several opportunities to increase cap space. The obvious sources are the contracts of Allan, Gostkowski and McCourty.

4) It seems that we are in the slow period before the draft.

I think we have done what we've HAD to do, anything thing further will fall in the "would like to do" category. There are 2 other FA's that intrigue me, and they are Marty Bennett who has been making suggestions that he might not be ready for retirement and Delvin Breaux who has been a binky of mine since he came out of Canada a few years ago. But like I said, those guys would be luxury items and their signings would require some kind of move to create space because as of now, there really is nothing left given the need to sign our draftees and having a reasonable in-season reserve.

Miguel said:

$10,555, 238 is my new salary cap number after the Tobin signing.

Still waiting on the details for the Chung and Slater extensions.

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Am I right in that we have to hold $5-$6 in reserve for draft picks?

mgteich said:

1) If we have about $5M, no action is NEEDED before the draft, or even to sign a minor free agent or two.

2) We would likely need a restructure or waiver in order to trade for a player.

3) As you have detailed, there are several opportunities to increase cap space. The obvious sources are the contracts of Allan, Gostkowski and McCourty.

4) It seems that we are in the slow period before the draft.

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After Waddle is accounted for, cap space might be as low as $3M-$3.5M, with $2.5M of that going to rookies (including UDFA). Might be able to squeeze in one more guy and a vet-minimum deal.

It would be a lot easier to project net cap effects if OTC was up-to-date so that we could see where the current 51-52 cutoff line is.

PATSNUTme said:

Am I right in that we have to hold $5-$6 in reserve for draft picks?

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Not quite.

Until final cutdowns in September, only the top 51 cap hits count against the cap.

So, when a player with a cap hit higher than that of the 51st highest player is signed, it knocks that 51st player's cap hit off the list.

For example, Slater is signed at a $2M cap hit. The #51 guy is Karras at $630k. So, Slater's net cap hit is only $2M - $.630M = $1.37M.

By the time Flowers and Waddle are accounted for, the #51 cap hit should be Grigsby at $645k, the #50 then being Roberts at $655k, and the #49 then being Wise at $700k.

The 2018 cap hit for the #31 pick = $1.756M
#43 = $1.186M
#63 = $800k

That totals $3.742M. However, you then subtract the cap hits of the three guys who will be pushed out of the top 51 = $2M. You're left with a net cap hit of $1.742M.

The cap hit for the #95 is only $677k, so that won't even register, and neither will the cap hits of any player selected after that, including UDFA - except for their signing bonuses.

These are my own rough numbers, and Miguel has previously estimated the net cap hit from rookies to be between $2M and $2.5M. I'm sure his detailed numbers are more accurate than mine, but the basic principle remains the same.

vet minimum signed count almost nothing against the cap, especially those that qualify for special veteran treatment.

I expect that at least one of the extensions is all lined up, to be used as needed.

But, as of now, we're pretty well up against the cap, as you say.

maineman209 said:

After Waddle is accounted for, cap space might be as low as $3M-$3.5M, with $2.5M of that going to rookies (including UDFA). Might be able to squeeze in one more guy and a vet-minimum deal.

It would be a lot easier to project net cap effects if OTC was up-to-date so that we could see where the current 51-52 cutoff line is.

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maineman209 said:

It would be a lot easier to project net cap effects if OTC was up-to-date so that we could see where the current 51-52 cutoff line is.

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Or read my salary cap recaps on Boston Sports Journal where I state the cutoff player in practically every report. A shameless plug!!!

Salary cap recap 03.22.18: Patriots end day with $10,963,858 in cap space | Boston Sports Journal

I do plan to update with How the 2018 rookie pool will work for the Patriots | Boston Sports Journal with the newly affected players.

Miguel said:

Or read my salary cap recaps on Boston Sports Journal where I state the cutoff player in practically every report. A shameless plug!!!

Salary cap recap 03.22.18: Patriots end day with $10,963,858 in cap space | Boston Sports Journal

I do plan to update with How the 2018 rookie pool will work for the Patriots | Boston Sports Journal with the newly affected players.

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iNice to see you still know the way back home, Miguel. . I'm a subscriber to BSJ, but you should still stop by every now and then to do your "shameless plugging". Like my mamma told me long ago, "don't ever forget where you come from."

BTW You are doing a great job over there.

maineman209 said:

Not quite.

Until final cutdowns in September, only the top 51 cap hits count against the cap.

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It is actually 12:00 AM the day of the first game of the NFL regular season. For this year that would be September 6.

Miguel said:

It is actually 12:00 AM the day of the first game of the NFL regular season. For this year that would be September 6.

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Yay! A few days more breathing room!

Miguel said:

Or read my salary cap recaps on Boston Sports Journal where I state the cutoff player in practically every report. A shameless plug!!!

Salary cap recap 03.22.18: Patriots end day with $10,963,858 in cap space | Boston Sports Journal

I do plan to update with How the 2018 rookie pool will work for the Patriots | Boston Sports Journal with the newly affected players.

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Thanks!

I'd love to subscribe, but we need to pinch pennies in our household these days.