The Philadelphia Eagles were projected to enter the 2014 offseason with the 10th most salary cap space. For those of you who like specifics, the exact number was $20,085,737. That was hardly surprising given the team's history of sound cap management.
The Eagles used that space to re-sign and extend their own players before free agency even started; there were new deals for Riley Cooper, Jeremy Maclin, Jason Peters, and Jason Kelce. Then free agency started and the Eagles signed a slew of new players: Donnie Jones (re-sign), Malcolm Jenkins, Chris Maragos, Bryan Braman, Nolan Carroll, and Nate Allen. In a move that shocked no one, the team also released Patrick Chung. Former Saints offensive weapon Darren Sproles was brought in via trade and given a contract extension shortly after his arrival.
Now that the bulk of their shopping is done, it's time to revisit that cap room number. According to the NFLPA's records, the Eagles' number stands at $16,203,629. OverTheCap puts that number at $16,253,669. EaglesCap lists that figure a little higher at $17,971,365. So using these different sources, you get a ballpark idea. How does this number compare to other teams around league? Going by OverTheCap's chart, the Eagles are currently 8th in salary cap room.
While the majority of the big free agents have already signed, the Eagles can still make use that cap space. But just not right now. What the Eagles can do with all of that money is roll it over for next year. It would make sense for the Eagles to do this considering they have a number of young players who could be up for contract extensions such Nick Foles, Brandon Boykin, Mychal Kendricks, and Fletcher Cox. Foles is especially relevant here because of his position. If he continues to play well, he will be in for a big pay day. Quarterbacks make crazy good money.
Given the whole ongoing DeSean Jackson situation, it's probably worth mentioning what would happen to the Eagles' cap space if they traded him. If Jackson is traded, the Eagles would gain $6.75 million in cap space. That would given them a total of $23 million, which would be the 6th highest in the NFL. There would be $6 million left in dead money, however. The Eagles hardly need to deal Jackson for financial reasons, but it's a side effect to consider.
Any way you look at it, the Eagles are in good financial shape for now and the future. They will likely have the room to re-sign their own players while still being able to bring in new talent through free agency. While the idea of being salary cap champions gets kicked around as a joke, it's something that shouldn't be taken for granted. Just ask the Dallas Cowboys.