The Redskins’ cap space is dwindling a bit after a flurry of signings late last week but they still have a good amount of money to work with.
After processing the Thursday signings of Jason Hatcher, Darryl Sharpton, and Clifton Geathers, and the release of Will Montgomery, the Redskins had $9.2 million in salary cap space left.
That number does not include the contract signed by Tracy Porter on Saturday. We don’t have the details of that deal so we don’t know what the first-year cap number is.
But we can make an estimate based on his reported terms. Ian Rapoport of NFL Network reported that Porter signed for 2 years and $6 million. As a rule of thumb, the first-year cap hit runs about half of what the average annual value of the deal is. And due to the Rule of 51, a player making about $500,000 gets knocked out of the salary cap total when Porter’s cap hit is added in. It all adds up to a net reduction of about $1 million in available cap space.
So that leaves the Redskins with about $8.2 million in cap space. It could be a little more or less but what’s a few hundred thousand dollars among friends.
They still have some needs to fill at safety and possible at right tackle. That is enough space to get some players signed. They also could create some more space by releasing some players.