Before the NFL draft, the Falcons didn’t have the funds to pay their rookie class. OverTheCap estimated the Falcons would need around $7 million to sign their 2022 draft class, and their pre-draft projection of the team’s salary cap was $3.4 million. However, circumstances have changed.
First, the Falcons decided to cut ties with Mike Davis after selecting BYU running back Tyler Allgeier in the fifth round of the draft. The move created $2.5 million in cap space.
Then, the Falcons and Grady Jarrett agreed to a lucrative three-year, $51 million contract extension that locked up one of the only pillars on the roster and simultaneously lowered his cap hit this year. Jarrett’s $12.9 million cap in 2022 saves the team $10.9 million.
The Falcons can still cut Kendall Sheffield to save $2.5 million more. Sheffield isn’t going to break into the starting corner rotation barring any unforeseen injuries, so that seems like a no-brainer.
As it stands right now, the Falcons currently sit with just under $16 million in cap space, according to OTC. After the rookie class is signed, that should leave Atlanta with about $10 million to spend. Some of that will be saved for an emergency fund during the season, but the Falcons will also have enough room to add a free agent or two.
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