Updated Seattle Seahawks cap space ahead of 2024 NFL Draft

Does Seattle have enough money to sign their draft picks?
Trevor Ruszkowski-USA TODAY Sports

The Seattle Seahawks currently have seven selections in the 2024 NFL draft. Each pick will receive a four-year deal for choices from the second round to the seventh. First-round picks will be offered a deal for four years with a team option for a fifth season. Every pick once drafted knows how their contract will read. The only thing to work out is how much of the contract is guaranteed money.

That last part is important because based on simple dollars and cents, the Seahawks do not have the money to sign all their draft picks. At least, not on paper. The team currently has $1,616,170 in cap room, according to Over the Cap. Seattle's projected rookie pool for contracts is around $7 million but will change if Seattle makes trades during the draft, which seems likely. That means Seattle's cap space is under the projected rookie pool currently.

Here is the good part. Seattle, like every NFL team, currently has a bloated roster. Those projected to be on Seattle's active 51-man roster include players such as edge rusher Darrell Taylor and cornerback Mike Jackson. If general manager John Schneider decides to release those two players prior to the season, Seattle would save a bit more than a combined $6 million.

What does the Seattle Seahawks cap room look like ahead of the 2024 NFL draft?

The point is that what 12s see now in cap room is not actual reality. We also do not know exactly what the guaranteed numbers are. Plus, players such as Geno Smith and DK Metcalf could have part of their base salaries rolled into signing bonuses and that would open up more cap room.

The Seahawks are not going to be in a position where they are forced to cut players based on a tight salary cap. Money might be part of the thinking, but only a small part. Cap room is malleable and can be moved around enough to suit a team unless that team is trying to sign a free agent to a massive deal which Seattle is clearly not trying to do.

While Seattle might appear to be a few million dollars in the hole based on the draft picks they are likely to have, there is no reason to panic. John Schneider will find a way to make sure there is money left over even after signing the draft choices.

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