The Jacksonville Jaguars will have ample cap space to improve a roster that finished 2-14 in 2012 when free agency begins on Tuesday.
According to Spotrac, the Jaguars possess $34.8 million in available cash, which new general manager David Caldwell can spend on either re-signing in-house free agents or making a splash on the open market.
For the Jaguars to get out of the AFC South cellar in 2013, Caldwell will likely have to find a working mixture of both.
Stick here for all the latest rumors, reports and signings as free agency opens Tuesday. We'll have real-time updates and analysis, plus grades on each move the Jaguars make during the free-agent period.
March 13: According to the agent of Derek Cox (per Ryan O'Halloran), the Jaguars are no longer in play to retain the free agent cornerback
March 13: Free-agent right tackle Tyler Polumbus will visit Jacksonville on Thursday, according to Mike Jones of the Washington Post.
March 13: The Jaguars will host free-agent cornerback Alan Ball, per Adam Caplan.
March 11: According to Ryan O'Halloran of the Florida Times Union, a league source said that cornerback Derek Cox will likely command a deal worth $24 million over four years, or $6 million annually. The Jaguars, Washington Redskins, San Diego Chargers and Tampa Bay Buccaneers are all reported to have interest in the cornerback.
March 8: O'Halloran reports that the Jaguars are not ruling out a deal for free-agent defensive tackle Terrance Knighton. The story also states that Jacksonville is expected to pursue Cox, center Brad Meester, fullback Greg Jones and linebacker Daryl Smith.
March 7: According to O'Halloran, free-agent center Brad Meester will "likely retire" if the price isn't right this offseason.
WR Jordan Shipley: The Jaguars re-signed the backup receiver, according to Paul Kuharsky.
C Brad Meester: The Jaguars re-signed the veteran center Tuesday, according to Ryan O'Halloran.
DT Roy Miller: The Jaguars signed the former Buccaneers defensive lineman, according to agent Mike McCartney.
RB Justin Forsett: The Jaguars signed the former Texans running back, according to the team's official Twitter account.
CB Antwaun Molden: The Jaguars signed the 28-year-old cornerback, according to Aaron Wilson.
CB Derek Cox: Agreed to a four-year, $20 million deal with the San Diego Chargers, according to the San Diego Union Tribune.
DL Terrance Knighton: Agreed to a two-year deal with the Denver Broncos, according to the Denver Post.
WR Laurent Robinson: The Jaguars released the former high-priced free agent, according to Ryan O'Halloran.
Finally, the Jags make a move in free agency that isn't trimming their own fat.
In Hayes, Jacksonville get a potential starting outside linebacker who has vast experience playing special teams. At the very least, Hayes could be a valuable backup and core special teamer for the rebuilding Jaguars.
As a three-year starter for the Buccaneers, Hayes made nearly 200 total tackles, registered seven sacks, picked off four passes and forced four fumbles. He spent last season as Chicago's top backup linebacker.
While signing Hayes isn't a huge splash for a team blessed with cap room, it's likely to be a low-cost addition with depth and special teams value.
Forsett isn't a splash signing, but he's been productive with limited opportunities over his NFL career and should give the Jaguars a reliable, veteran presence behind Maurice Jones-Drew.
Despite just seven NFL starts, Forsett has provided an multi-threat asset.
Over the last four years—three in Seattle and last season in Houston—Forsett ran for 1,661 yards (at 4.9 yards a carry) and caught 100 passes for 768 more. He rushed 13 times for 94 yards in two games against Jacksonville last season.
The money here isn't likely to be substantial. For one or two years, Forsett makes sense as a backup with NFL experience.
MIller isn't a big name—this is becoming a running theme for Jacksonville's additions in free agency—but he can help the Jaguars.
A 23-game starter for the Buccaneers over the last three years, Miller is only 25 years old and comes with a reputation for being strong against the run. He isn't much of a pass rusher—just three sacks in four NFL seasons—but the Jaguars will benefit from his run-stuffing abilities.
With Terrance Knighton in Denver, Miller should be an immediate starter. He'll likely come at half the cost, too.
After a visit Thursday, the Jaguars wrapped up the former Texans defensive back.
However, don't expect the move to have a big impact in 2013.
While Ball has experience playing cornerback and safety, this signing likely won't result in the Jaguars finding a starter at either position. Ball is a depth player, at best.
The 27-year-old saw just over 100 snaps for the Texans last season, but he struggled when asked to play a significant role. Against both the Packers and Lions, Ball had a difficult time in coverage (allowed touchdowns in both games).
As a backup and special teams contributor, Ball makes sense. Anything more, and the Jaguars are reaching.