With reports surfacing that the NFL will bump the cap by nearly $4 million from $123 million to $127 million in 2009, the Buccaneers are flush with nearly $70 million in available cap room with the start of free agency looming.
The team used what many describe as the LTBE loophole, to roll unused money over from 2008 to 2009. The cuts of Brooks, Dunn, Galloway, Hilliard and June saved the team 12.55 million in cap space for 2009. By adding the current cap numbers for Sims, Penn, A. Bryant and McCown together for 2009 you get a figure of 18.2385 million.
After computing the numbers, the Bucs currently stand at roughly 68.758 million in cap space once the free agency signing period opens.
With the salary cap floor being 87.6% of the total cap for 2009, not counting money’s rolled over using the LTBE loophole. The Bucs will need to spend $111,252,000.00 million dollars this coming season. With the team hoovering around $63 million against the cap as of today, the Bucs still need to spend another $48.2 million to reach the salary cap floor or face league sanctioned fines.