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The new league year for the NFL is just about one month away.
And it also means that the start of free agency is just right around the corner as well.
With that, the NFL has informed teams that the salary cap floor for the 2021 season will be $180 million.
For the Seattle Seahawks, this is certainly positive news for them and as well for the other 31 teams in the league.
Why? Because the previous estimate for the salary cap was set at $175 million.
It might not seem like much, but an extra $5 million helps a lot in the grand scheme of things.
That $5 million could help cover a draft class and retain a key veteran who might have been cut if they didn’t have the money for him.
Not much, but it does help.
According to OverTheCap.com, the Seahawks have about $4.391 million in cap space and have about $1.751 million in effective cap space.
The Seahawks have the third-most cap space available. San Francisco and Arizona will have about $13 million and $11 million in cap space.
The Los Angeles Rams are about $26 million over the cap at the moment.
From a league standpoint, the Seahawks are 19th in cap space.
Obviously, these figures will most likely change before free agency kicks off. Seahawks John Schneider will most likely figure out a way to clear some cap space.
Schneider could convert some players' base salaries into signing bonuses for this year. That could include Russell Wilson and Bobby Wagner.
There are few other options Schneider can get into. That is something will discuss as free agency inches closer.
Again, this is not the final salary cap for the league year and it could possibly go higher - it sole depends on final numbers and revenue figures coming out of the 2020 season.
With all that said, an increased salary cap floor will still help the Seahawks be more active in free agency in the weeks to come.
The offseason will be most likely the busiest in recent Seahawks memory,
And NBC Sports Northwest will have you covered with all the moves being made within the organization.