Just finally got confirmation from an NFL official that the salary cap has risen from the planned $123 million to $127.05 million because teams underspent what was projected last year and because 2009 is the final year under the cap barring a new CBA agreement by March 2010.
The highly-placed NFL official to whom I spoke said the news had taken him by surprise as well; he said the the league was still working on formulating the explanation of the change, which was reported by Adam Schefter of the NFL Network last night but hasn’t made its way to the league’s official news sites.
All of this means that the Redskins have about $10 million — not $6 million — to spend, which makes them a legitimate competitor for the services of Tennessee defensive tackle Albert Haynesworth, the top-rated player due to become a free agent at midnight.
- David Elfin
UPDATED at 1:25 p.m.
Explanation on the sudden movement on the salary cap:
The 2006 CBA provides for an upward or downward adjustment to salary cap room in the event leaguewide cash spending on player costs (salaries and benefits) falls below or exceeds a predetermined percentage of total league revenue (59.5% in 2008). In the past several years, cash spending has been below this percentage. As a result, each club will receive an additional $4,050,000 in salary cap room in 2009. This cash adjustment mechanism [CAM] will not affect the CBA’s 2009 minimum team salary, which remains at $107,748,000.