Overview:
In my opinion, this team is still at least a couple years away from being a competitive team in the playoffs, so the focus was on bringing in young talent in free agency and drafting future contributors, not necessarily instant impact players for 2016. We have a lot of cap room and I expect we'll have to offer market rate or better to attract players to a rebuilding team. To avoid tying up valuable cap space 3-4 years down the road, the free agent deals are slightly front-loaded.
2016 Salary Cap:
Overthecap.com was used to come up with the cap room projections for free agency. Cap space is based upon the 51 largest contracts (by cap hit), so whenever a player is being cut, that means a cheaper player is now counting towards the cap ($525,000). When a player is signed, they are replacing the lowest cap hit.
The initial 2016 cap room based on a projected $162.6 million cap: $53.5 million
Cuts/trades:
Cut Pears ($2.1 million), Brooks ($6.4 million), Bethea ($3.5 million), Dorsey ($2.1 million)
Trade Kaepernick for a conditional pick in 2017 (3rd round if he puts up 4000 combined yards or 30 combined TD's, otherwise 5th round) – someone else may be willing to take a chance on him if we eat the remaining guaranteed money. I like the idea of trading for a conditional pick based on his performance next year so we have a chance of getting something back for hm. Trading Kaepernick gives us a ton of flexibility in 2017 and beyond and $8.5 million additional cap room in 2016.
New 2016 cap room after replacing them in the top 51: $74.1 million
Money set aside for draft picks:
Our top 5 draft picks are the only picks that count against the cap because they exceed $525,000. These contracts add up to $6.1 million in cap hits in 2016, so the cap room setting aside money needed to sign our draft picks is $68 million.
Free Agency signings (2016 cap hit in parenthesis – intentionally front-loaded deals)
Re-sign/Player returns from retirement:
Ian Williams ($5 million) - Has been one of our best players on defense and is only 26. Overthecap.com projects he'll get 3 years $9-12 million, but I think he'll get closer to 4 years $20 million.
Tony Jerod-Eddie ($1 million) - He's only 25, provides valuable depth, and shouldn't be expensive to retain. We'll need to rotate players on defense to keep them fresh now that Chip Kelly is at the helm. Extend him for 2 years $2 million.
Phil Dawson ($1.4 million) - Turned 41 today. He's still playing at a high level, but we need to start looking for a replacement. Luckily, kickers are easy to find in free agency or in the last rounds of the draft. Extend him for 1 year $1.4 million.
Anthony Davis comes back ($5.6 million) - Given the state of our offensive line, we should welcome Davis back with open arms. Trent Brown has been a pleasant surprise, but he's no Anthony Davis and it will be nice to have depth on the offensive line again. Davis may need some time to get back in game shape.
Let walk:
Anquan Boldin, Reggie Bush, Alex Boone, Garrett Celek, Shaun Draughns, Michael Wilhoite, Ray-Ray Armstrong, Jordan Devey
Cap room left to sign free agents: $57 million
New acquisitions:
Kelechi Osemele ($9 million) – OG – Osemele is only 26 and it's extremely unlikely that he'll be tagged because the franchise tag doesn't differentiate between offensive line positions. He's one of the best guards in the NFL and we have the cap room to offer him top dollar at the position. He gets 5 years $40 million (same as Iupati's deal last year).
Travis Benjamin ($8 million) – WR – Benjamin only turned 26 in December and had a coming out party in 2015. He would be deadly in Kelly's fast-paced offense. Alshon Jeffery would be incredible, but the Bears have about as much cap space as we do and can easily afford to tag him or sign him to a long term deal. Benjamin gets 5 years $38 million which is almost as much as Torrey Smith got to come here last year and also in line with Golden Tate and Pierre Garcon's contracts.
Coby Fleener ($7 million) – TE – Fleener is brought in to be our #1 TE after we let Celek leave in free agency. He's a better version of Zach Ertz who has had some success in Philadelphia. The Colts have Dwayne Allen and a number of good WR's so they don't need to re-sign Fleener. He signs a 4 year $25 million deal after a down season in 2014.
Malik Jackson ($11 million) – DE – One of the inevitable cap casualties for Denver, Jackson has developed into one of the better 3-4 DE's in the league. He's no Wilkerson, but he should come at a significantly cheaper cost and was one of the highest rated 3-4 DE's by PFF. He signs a 4 year $40 million deal in line with the 4 year $36.7 million deal his teammate Wolfe just signed with the Broncos.
Olivier Vernon ($12 million) – OLB – This is a bit of a stretch, because I think the Dolphins will do whatever it takes to re-sign him, but as of right now, the Dolphins have no cap room and Vernon will be expensive. He's only 25 and is one of the best pass rushers in the league. He shifts to OLB and becomes our best player on defense and revitalizes our pass rush behind an upgraded defensive line. Miami chooses not to franchise tag him which could cost $15 million this year and he signs with the 49ers for 5 years $55 million.
The new acquisitions replace the cheapest cap hits in the top 51, so the remaining cap room after the draft and free agency is ~$12 million.
All the cap hits for the free agents we signed in 2016 would go down in 2017 and the $8.5 million in savings for trading Kaepernick turns into $19.4 million in 2017 giving us room to extend/re-sign guys like Lynch, Reid, and Hyde. Gabbert, Miller, and Reid are the only noteworthy 49ers players hitting free agency in 2017, so there would be plenty of cap room to add some more pieces a year from now.
[ Edited by eastcoast49ersfan on Jan 23, 2016 at 5:39 PM ]