At this time of year, one of the most important numbers for any NFL team is how much salary cap space they have. The Green Bay Packers currently are among bottom ten teams in terms of space, and that number is probably going to shrink a bit more when some recent signings are made official.
According to Field Yates of ESPN, the Packers sit a bit less than $13 million under the $198.2 million salary cap, with the exact number coming in at $12,966,433.
However, that number does not account for a few recent contract agreements: notably Devin Funchess, Will Redmond, and Tyler Ervin, whose contracts are not yet official. However, we do have details on two of those three and can assume a value on the third. But the net effect that each player’s contract has on the current cap space number must take into account the Top 51 rule, which specifies that only the 51 highest cap hits on a roster are counted during the offseason.
Funchess’ deal will pay him $2.5 million this year, but based on his per-game active roster bonuses, his actual cap value for the time being is lower than that. At a cap value of $2,265,625, Funchess takes a spot on the Top 51 contracts list away from a player set to make $675,000, making his current net effect $1,590,625.
Tyler Ervin’s deal likewise has a small effect on the cap for now. Due to a veteran exception, his deal counts for just $887,500 on the cap and like Funchess, he pushes another $675,000 player out of the top 51. That reduces the current cap by another $212,500. Finally, that brings us to Redmond. Assuming that he signed a deal for the league minimum at his experience level, $750,000, that cuts down the cap by another $75,000.
All told, these three signings would cut another $1,878,125 off the cap value reported above, bringing the team’s current cap space to $11,088,308.
The Packers current set of draft picks should account for another $2 million or so in net cap space during the offseason, leaving the team in the $9 million range. It looks unlikely that Green Bay will make any additional major moves this offseason, but there is still flexibility to add a player or two on low-dollar deals if the right fit emerges.