Before the Alex Smith trade was made official, San Francisco was seemingly hurting for salary-cap space. Couple that move with the release of David Akers, and the 49ers are now sitting pretty at the beginning of free agency. Those two moves alone cleared $11.55 million in space.
However, the acquisition of Anquan Boldin will add $6 million to the Niners' cap number. According to Spotrac, their total cap figure right now is at $118,367,079, which means they are $4,632,921 under the salary-cap floor.
I feel a restructure coming on for Boldin when he returns home from his African trip. It also wouldn't surprise me if a veteran player got the ax in favor of another veteran.
Let's examine the moves San Francisco has made up until this point, and the ramifications they have on the salary cap.