We are racing through the NFL offseason, and are now in the "OTA" phase. In the blink of an eye, we will be playing preseason football. It has certainly been a dramatic offseason. We've seen some teams like the New York Giants and Baltimore Ravens open up their wallets for big-time signings and extensions, while other teams like the Los Angeles Rams have been more interested in selling off assets.
Now that we are in June, it seems like a good time to reset and examine which teams still have large amounts of money available, and which clubs have spent the most dollars.
Here is each NFL team's cap situation as of Friday, June 2.
All salary cap and spending info comes from Over The Cap.
| Team | Cap Space |
|---|---|
1. Bears | $32,578,173 |
2. Panthers | $27,249,322 |
3. Cardinals | $26,679,614 |
4. Jets | $24,452,295 |
5. Lions | $23,721,793 |
6. Colts | $23,388,906 |
7. Cowboys | $20,477,860 |
8. Texans | $16,808,849 |
9. Packers | $16,567,483 |
10. Steelers | $15,726,194 |
11. Bengals | $14,919,110 |
12. Saints | $14,271,778 |
13. Patriots | $14,124,960 |
14. Dolphins | $13,904,327 |
15. Browns | $13,864,088 |
16. Eagles | $13,854,767 |
17. Chargers | $12,612,249 |
18. Commanders | $11,570,245 |
19. Ravens | $11,535,327 |
20. Jaguars | $11,203,063 |
21. 49ers | $10,719,232 |
22. Falcons | $10,698,519 |
23. Broncos | $9,932,047 |
24. Vikings | $9,649,639 |
25. Seahawks | $7,940,094 |
26. Titans | $7,737,260 |
27. Giants | $3,824,536 |
28. Raiders | $3,367,129 |
29. Rams | $1,493,514 |
30. Bills | $1,400,994 |
31. Chiefs | $652,557 |
32. Buccaneers | $401,791 |
The Bears started off free agency with the most available cap space, and somehow, they still remain on top. That's not for a lack of moves either, as they signed linebackers Tremaine Edmunds and T.J. Edwards, offensive guard Nate Davis, running back D'Onta Foreman and tight end Robert Tonyan. Splashy signings to go along with underrated ones. General manager Ryan Poles has done a great job setting the Bears up for success moving forward.
The Panthers sitting at No. 2 is pretty interesting. They've made some noteworthy additions in Adam Thielen, Miles Sanders, Vonn Bell, Hayden Hurst and Shy Tuttle. Maybe they are a candidate to add one of the top remaining free agents to help out No. 1 overall pick Bryce Young.
We of course can't talk about available cap space without mentioning free agent DeAndre Hopkins. The veteran wideout was released recently, and it's unknown what exactly he's looking for in his next team. Does he want to ring-chase for a team that doesn't have much cap space like the Chiefs or Bills? Or does he want a decent team with the ability to pay him -- like the Patriots or Lions?
As for the teams currently struggling with their cap situation, the Buccaneers have just $401,791 to make moves. Kansas City and Buffalo round out the bottom three.
Now, let's check out the teams that have spent the MOST money in free agency.
| Team | Money Spent |
|---|---|
1. Ravens | $300,330,000 |
2. Giants | $251,742,500 |
3. Broncos | $247,385,000 |
4. Saints | $237,416,500 |
5. Falcons | $216,892,500 |
6. Raiders | $176,407,500 |
7. Seahawks | $175,777,500 |
8. Bears | $169,015,000 |
9. Panthers | $163,755,000 |
10. Commanders | $158,827,500 |
11. Browns | $136,322,500 |
12. 49ers | $135,232,500 |
13. Chiefs | $121,890,000 |
14. Steelers | $119,857,500 |
15. Lions | $112,892,500 |
16. Bengals | $111,323,000 |
17. Patriots | $105,660,000 |
18. Texans | $102,105,000 |
19. Vikings | $101,370,000 |
20. Jets | $94,745,000 |
21. Buccaneers | $85,040,000 |
22. Bills | $76,675,000 |
23. Colts | $76,515,000 |
24. Titans | $76,367,500 |
25. Eagles | $74,777,500 |
26. Dolphins | $64,030,000 |
27. Cardinals | $61,991,250 |
28. Cowboys | $54,656,000 |
29. Chargers | $54,257,500 |
30. Jaguars | $31,517,500 |
31. Packers | $15,057,500 |
32. Rams | $5,830,000 |
The Ravens have certainly had an impressive offseason. Baltimore grabbed Odell Beckham Jr. on a one-year deal worth up to $18 million, and star quarterback Lamar Jackson agreed to a five-year deal worth $260 million, which includes $185 million guaranteed. Jackson's new AAV of $52 million makes him the highest-paid player in NFL history.
Giants head coach Brian Daboll and GM Joe Schoen are building off their impressive 2022 campaign in free agency. The main reason they are No. 2 on most dollars spent is because of Daniel Jones' four-year, $160 million extension.
Sean Payton and the Broncos have been busy as well. Denver inked former 49ers right tackle Mike McGlinchey to a five-year, $87.5 million deal, former Ravens guard Ben Powers to a four-year, $51.5 million deal and former Cardinals defensive end Zach Allen to a three-year, $47.75 million deal. Those are some big contracts, but the Broncos needed to make some upgrades -- especially when it came to the offensive line.
As for the teams that haven't spent much money, the Packers and Rams rank last. The largest contract Green Bay gave to an outside free agent went to a long snapper, as Matthew Orzech signed a three-year, $3.65 million deal. The Rams, quite frankly, have done nothing in terms of free agency.