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Here is a summary of the Jets current cap situation (according to nyjetscap.com):
Jets Salary Cap Limit: $130,071,600
Current Jets Total: $126,560,354
Current Estimated Cap Space: $5,026,486
2013 Jets Estimated Cap Total: $141,885,333
As you can see, the Jets have some serious cap issues that they need to deal with because as of right now, they are expected to be about $10 million over the cap in 2013. The Jets will likely unload some of the more bloated contracts in players like Bart Scott and Calvin Pace to begin to trim the number down.
This also shows how much harder it is going to be to cut Mark Sanchez and eat a $17 million cap hit.
Therefore, barring some serious cap magic by Mike Tannenbaum, the Jets will not be able to spend much money in free agency. Any players they target will be lower-tier free agents.