SportsIllustrated.com wrote:The obvious question for fans and foes alike: How can the Redskins afford it, given that every team is operating with a league-mandated $80.6 million cap?
The answer lies in the signing bonuses, which can be prorated over the first six years of the contracts. The $49.6 million in bonuses given to the six new players will count for approximately $8.4 million against this year's cap. The players' actual first-year salaries are at or near the veteran league minimum, using up perhaps another $3 million to $5 million.
Plus, the Redskins cleared millions in cap room last week when they cut four veterans, including Bruce Smith and Jessie Armstead, and the Champ Bailey trade gave the team $6.8 million more in cap space.
The team has also renegotiated some other players' contracts to make them more cap-friendly and might renegotiate a few more. There are also other players, such as running back Trung Canidate, who have become expendable and could be cut to save more money.
And, so, voila! The Redskins can spend big and still be within the rules. In fact, they currently have enough money available to make several more signings in the coming days.
From the same article, here's some negatives about their spending...
SportsIllustrated.com wrote:Of course, there's usually a price to be paid down the road for such financial wheeling and dealing.
Most of the contracts are heavily backloaded with untenable salary figures that will have to be renegotiated a few years down the road. Brunell's seven-year contract, for example, is essentially a three-year deal because it then becomes unaffordable. During last year's spending spree, owner Dan Snyder structured everything around a "three-year plan" for holding a roster together before a major overhaul.
Source: More to Come?