Financially, this has been a tough offseason for the Panthers. We've had our backs pressed against the salary cap and have watched some pretty alluring free agents sign elsewhere time after time. Fear not, however. Gettleman is setting us up to have a nice bit of cap room.
Currently, the NFL Salary Cap is $133.0M. We have $6.0M in 2013 Cap Rollover and lost $0.3M in adjustments.
This means our adjusted Salary Cap is $138.7M. For comparison's sake, New Orleans' adjusted Cap is $132.8M.
We are currently carrying $17.8M in dead money—thanks Jon Beason ($8.0M), Jordan Gross ($5.6M), and James Anderson ($2.8M), but most importantly Marty Hurney.
We are also carrying approximately $134.2M in salary among our top 51 contracts—what counts against the cap. I say approximately because I estimated DeCoud's cap hit based on his average salary.
This all calculates out to $4.5M in Cap Space. If we cut Godfrey post-June 1 (looking more and more likely), we will have $9.6M in Cap Space.
Resigning Hardy long-term would likely give us ~$12.5M in 2014 Cap Space.
$12.5M in Cap Space sounds very nice right now. It would give us plenty of room to sign our rookies and begin looking forward to extending Cam.