NFL cap space: Jaguars, Jets headline free agency; Saints, Eagles scramble for options

NFL offseason is just two weeks away with new league year beginning on March 17 when franchises will be able to d free nts to ir rosters. While offseason is generally a time when teams go on a spending spree, coronavirus pandemic created a revenue shortfall and salary cap took a steep decline. NFL salary cap took a hit for first time since its inception in 1994 from current $198.2 million to $180 million. 

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NFL teams cap : How much NFL cap do franchises have left? 

expectation is that 2021 salary cap won't be above $185 million. cap is being rolled back to between 2018 and 2019 levels when it was $177.2 million and $188.2 million, respectively and will have major casualties during player contracts. reduced NFL cap means players whose roster spots wouldn't rmally be in jeopardy are being asked to take pay cuts and getting released out of necessity. Teams must be under a declining salary cap when new league year starts on March 17.

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financial uncertainty and chaos mean that NFL free ncy market will see an uptick, with supply likely to exceed demand with market being flooded because of teams releasing more players than usual in order to be cap compliant. Players will have to make choice between signing a subpar multiyear contract or a one-year "prove it" deal in hopes of being in a better salary cap climate next year while younger players should resist urge to sign long-term deals under se circumstances. Teams also will be willing to get creative with contract structure to combat a crunched NFL salary cap . 

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Teams with an abundance of cap room, such as Indianapolis Colts, Jacksonville Jaguars, New York Jets, New England Patriots and Washington Football Team, will be in a position to significantly upgre rosters more easily than in previous years. Meanwhile, likes of Kansas City Chiefs, New Orleans Saints, and Philelphia Eagles will struggle to overhaul rosters ahe of new season. However much could change before March 17, as franchises could quickly cut players to make up for a cap deficit to give m free rein at NFL free ncy market. Franchise tags are likely to get cheaper, with a drop of 8 to 9 per cent expected depending on where 2021 salary cap is set. Here's official NFL teams cap for all 32 franchises courtesy of ESPN's Dianna Russini:

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(Im Courtesy: nfl.com)