Updated Seattle Seahawks salary cap situation

The Seahawks have made a number of moves in these first few days of free agency. That means that there have been some big changes to the Seattle Seahawks salary cap situation.

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The team traded for Jimmy Graham and traded away Max Unger. They signed Cary Williams and Will Blackmon, while re-signing Jermaine Kearse and Richardo Lockette. They also released Zach Miller. This has led to a lot of questions as to where the team stands against the cap.

Here is the full updated look at the Seattle Seahawks salary cap situation:

2015 adjusted salary cap: $148.26 million

2015 salaries: $121.69 million (top-51)

Dead money: $9.78 million

Available cap: $20.47 million

The Seahawks can, and probably should, restructure Jimmy Graham’s contract. He is due a $5 million roster bonus soon. By converting it to a signing bonus, they can generate an addition $3.3 million in cap space for this season. That amount will cover any space needed for rookies and a little extra.

The Seahawks will need to reserve some of that available space for re-signing Russell Wilson and Bobby Wagner. Around $8 million is all it’ll take to lock up both long-term.

They’d need to make it $10 million if they decide to lock up J.R Sweezy as well, which is probably a good idea. It also isn’t something that needs to be done until mid-season, and if so then there is no need to set aside cap room for the move now.

That leaves the Seahawks with $8-$10 million in available cap space right now, depending on if the re-sign Sweezy and the final structure of the Wilson and Wagner deals. It would be best if they didn’t spend it all so they have room to maneuver during the season for when they have to place players on injured reserve.

In the end, the Seahawks can spend $5-$7 million more this season and still be in good shape for the coming season and beyond. That is a great spot to be in.

All of the big contracts around the league are just about done. We are clearly in that second wave of free agency already. That means we’ll mostly see short-term deals with relatively little cash involved.

The Seahawks should be able to sign at least two more veteran players before the salary cap begins to become an issue.

Next: Jimmy Graham makes the Seahawks even better

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