Jason La Canfora of ESPN is reporting that the new league year has begun and with it the new cap rules are in place. As of yesterday morning, prior to Tamba Hali being signed, the Chiefs had more than 28 million in cap space. On the chart below you can see where the team is in relationship to other teams in the league. If you subtract the contract monies given to Hali, McClain, Carr and Houston then the adjusted available cap is now likely 10-12 million.
All teams in the league are supposed to be under the cap. The teams that are not, are left with the choice of either releasing existing players, or restructuring existing player contracts, in order to fit under the new salary cap. I haven’t heard yet what the repercussions are for teams who remain over the cap once the league year begins.
However, some other very interesting players may yet be released as a result.
The salary-cap is 120 million per team with an additional 3 million for cap credits plus minor allotments making the final figure between 123-124 million.