One week into the 2011 spending spree under the new $120.4 million salary cap, 11 teams still have more than $20 million available for the coming season. A source with knowledge of the numbers has shared them with PFT.
Leading the way are the Bengals, with more than $41 million in cap room. The Jaguars have more than $34 million.
And the bronze goes, surprisingly, to the Browns, with more than $30.4 million.
The others are: the Buccaneers (more than $30.2 million); the 49ers (more than $30.0 million); the Chiefs (more than $28.7 million); the Broncos (more than $26.7 million); the Bills (more than $26.5 million); the Bears (more than $24 million); the Cardinals (more than $23.6 million); and the Seahawks (more than $21.2 million).
It remains widely believed by fans and some in the media that the mandatory minimum cash spend of 89 percent under the new labor deal immediately applies. It doesn’t.
While the league as a whole must spend cash in 2011 that equates to 99 percent of the cap, there’s no minimum requirement for each team until 2013. Thus, neither the Bengals nor any other specific team is required to spend another dime — as long as all 32 teams cuts checks this year that equal at least $3.814 billion.
UPDATE: These numbers include the $3 million one-time exemption available to each team in 2011, which pushed the total spending limit to $123.4 million.