We now know what the salary cap for the 2022 season will be after the NFL and NFLPA agreed on Wednesday that they have agreed on a salary-cap ceiling of $208.2 million.
Knowing the cap this far in advance is a change from past years. Although this is not the official cap, and there is a small possibility it comes in lower, chances are in comes in right at the $208.2 million — which is great news for the Eagles.
Not only is the $208.2 million cap higher than expected, but knowing the cap this far in advance after a year of uncertainty surrounding the cap allows the Eagles to plan ahead.
Here is a look at the Eagles salary cap space with the new cap of $208.2 million in 2022:
2021: The Eagles, according to OverTheCap.com, currently have $3.7 million in salary cap space. A chunk of that will soon be gone, however, as the Eagles will need to sign their 2021 rookie class. Chances are that will take up a good portion of the $3.7 million left.
The good news is the Eagles have more cap space coming in once June 1st hits.
June 1st: A big cap-space day is coming up in the NFL as on June 1st the salary-cap hits for releasing players drop. That is going to be especially beneficial for the Eagles, who have three big-name players that will come off the books.
The first two players, who really have already been released but remain on the cap, are Alshon Jeffery and Malik Jackson. The Eagles will open up around $2 million for each player, totaling $4 million.
There is also the Zach Ertz move that is eventually coming. At the beginning of the offseason the idea of the Eagles holding onto Ertz until June 1st seemed crazy, but with that date now less than two weeks away, it seems likely he will be on the roster come June 1st. If he is, and the Eagles then release or trade him, they will open up around $8.5 million in cap space.
Add that $8.5 million to the $4 million saved with Jeffery/Jackson, and the Eagles will soon be opening up around $12.5 million.
It remains to be seen how much of the initial $3.7 million will be left over, but if you add that into the new cap space, the Eagles could have around $16.8 on-or-around June 1st.
The Eagles entering the 2021 season with around $10 million (at least) in salary cap space gives them enough room to make a trade or signing should they need to during the season, which is likely what they will keep the space for.
2022 Cap Space: Of course, to get out of that $60 million hole the Eagles were in, they had to push money into future years. As of a week ago, according to OverTheCap.com, the team had has $14.8 million in projected cap space for the 2022 offseason. Now, with the increased cap, that number is up to $20.6 million.
Starting the 2022 offseason $20.6 million under the cap is a huge deal. This offseason the Eagles had to climb out of a massive hole and still had enough money to sign some quality veteran starters. Starting $20.6 million above will give the Eagles the financial flexibility to be very aggressive in free agency.
It is also worth noting that Washington ($60.5 million) is the only team in the NFC East currently set to have more cap space than the Eagles in 2022, with the Giants ($6 million) and Cowboys ($19 million over the cap) both significantly lower.
The good news for the Eagles is that they have some options to open up even more space if they choose to.
Chances are that next offseason something happens with Fletcher Cox, whether it be a new deal or the team moving on from him. Cox is currently set to have a $23.7 million cap hit in 2022. They can clear $10.6 million by cutting or trading, and if they wait until June 1st (or designate him a June 1st cut) that number jumps to $17.1 million. There is also the possibility the Eagles redo his deal, which would significantly lower his $23.7 million hit. Either way, his cap hit is likely going to be coming down.
The other move the Eagles could make to open up space involves Brandon Brooks. What the Eagles do with Brooks will likely depend on a ton on his 2021 season. If he remains healthy and returns to an All-Pro level, he’ll be back in 2022. If he doesn’t, then he will almost certainly be gone.
Brooks currently has a cap hit of $19.4 million for 2022, one of the highest on the team. Cutting Brooks only clears $3.7 million, and leaves $15.7 million in dead cap — so that isn’t likely. A post-June 1st cut, however, saves $13.5 million. That is a real possibility if Brooks struggles in 2021.
If the Eagles decide to maximize their cap savings, and post-June 1st cut both Cox and Brooks, that would save $30.6 million.
Add in the $20.6 million they currently are projected to have and that would be $51.2 million in cap space. It is also very likely the Eagles will roll over cap space from 2021, likely around $10 million — which would bring the number up to $61.2 million.
Needless to say, $61.2 million would give the Eagles enough to do whatever they wanted next offseason, including resigning some of their own key players set to become free agents — like Anthony Harris, Eric Wilson, Dallas Goedert, Josh Sweat and Derek Barnett.
If the Eagles don’t re-do any deals (which is extremely unlikely) and just sit tight they will have around $30.6 million in salary cap space, which is enough to do whatever they want and sign multiple big-name free agents.
2023 Cap Space: Although they should have enough money to do whatever they want in 2022 without borrowing from the future, looking ahead, the Eagles are projected to have $93.7 million in 2023.
Obviously, that is a ton of cap space, and that number will be changing. The Eagles will sign players, they will extend players, they will redo deals. Plus, the team will presumably be paying a quarterback at some point, whether it be Jalen Hurts or trading for one. That $93.7 million will likely be cut in half — which will still leave the team will all the money it needs to do pretty much whatever it wants.
The bottom line is that, although things are a bit tight now, the Eagles’ salary cap situation is looking very strong moving forward, and it should allow them to accelerate the rebuild they started this offseason.
You can reach Eliot Shorr-Parks on Twitter at @EliotShorrParks or email him at esp@94wip.com!