2012 NFL Free Agents: Analyzing Revised Salary Cap Space for Every AFC East Team

As the 2012 NFL free agent frenzy draws nearer, now just over 24 hours away, NFL fans are like kids on Christmas wondering what new toys their team will wake up to.

The easiest way to get an idea for how active a team could be in free agency is to look at their salary cap figures, and Mike Florio of Pro Football Talk indulged us with figures for every team.

But that's not the only news about the salary cap that bears mentioning. Adam Schefter of ESPN on Monday reported that the Washington Redskins and Dallas Cowboys would each be docked off the salary cap for front-loading contracts during the uncapped 2011 season.

He adds a caveat for the rest of the league:

"

All that money goes to 28 other teams -- $1.6 million each -- except for Saints and Raiders, who don't get any but don't lose any.

— Adam Schefter (@AdamSchefter) March 12, 2012"

To update on Florio's numbers, I added $1.6 million to each of the four AFC East teams for further analysis.

Let's see where each stands in the salary cap.

New York Jets: Hurry Up, Offense

Needs: OL, WR, OLB, S

After a quick flirtation—really, no more than a wink followed by the Jets writing their number on a napkin—Mike Tannenbaum and the Jets were reportedly out of the Peyton Manning sweepstakes.

They took that opportunity to do what any sensible team would do: give their quarterback, who probably had his confidence shaken a little by the flirtation, a nice new contract that guarantees him starting money for the next two years.

As Florio's piece came out on Sunday, the numbers don't reflect the cap space after the Jets re-signed Sione Pouha to a three-year deal on Monday. 

With so little cap space before re-signing Pouha, and already two bigger contracts restructured in Sanchez and left tackle D'Brickashaw Ferguson, the Jets may be done making moves in free agency—barring another hot free-agent pursuit similar to when they chased Nnamdi Asomugha last year.

Miami Dolphins: Read and React

Needs: QB, OL, DE, DT, 

The Dolphins were considered the front-runner for Manning's services when the whole circus started, and though they fade further from the front of the pack with every passing hour, they're not completely out of the race just yet.  

Still, it might be time for them to start thinking about alternatives.

Their $11.8 million likely won't be used to retain any of their own, as the only in-house free agent of note would be Paul Soliai. If the team had intentions of keeping him long term, they likely would have used the franchise tag on him to ensure he doesn't walk away. There's still time to get a deal done, but it's not likely. Kendall Langford, and maybe one of their veteran offensive linemen, could be considered to help internally address a need.

Neither move would take too much money to get done and would still leave Miami with enough room to sign their draft picks and maybe another big free agent.

New England Patriots: Zone Defense

Needs: WR, C, DL, S

Not often does a team that appeared in a Super Bowl boast so much cap space the very next offseason, but the Patriots have been smart with their money and are reaping the benefits of that right now.

As this was written on Sunday, it's believed to include Wes Welker's $9.4 million franchise tender, a number which would go down if the team is able to reach a long term agreement with Welker.

Even if the team signs Brandon Lloyd, who will likely be a very inexpensive addition, they could still make a move for a decent-sized splash in the free-agent market.

One big question around the Patriots is whether the team will return to the 3-4 that has been Belichick's bread-and-butter, or if they will continue to use the 4-3, which was a shotgun wedding due to the lockout and shortened offseason program. The spontaneity of the switch seems to hint that they'll be switching back if possible, but their moves during the draft and free agency will likely indicate that answer one way or the other.

Buffalo Bills: Big Play Potential

Needs: DE (4-3), LB, WR

No team in the AFC East has it better than the Bills, which is good because they're also the team that likely needs the most help.

After signing wide receiver Stevie Johnson to a five-year contract extension, the Bills still have enough space to target one or two big-name free agents. As the defense transitions to the 4-3 for their base package, they do so with a lack of a true 4-3 defensive end. It just so happens there's a good one available in free agency.

Mario Williams, anyone?

The Bills have a chance to address their biggest need with potentially the biggest free agent on the market and to still have enough money when it's all said and done to not only add a few more pieces in free agency, but also to add a few more pieces in the draft.

That being said, their offer may have to well exceed other offers because...well, it's Buffalo.

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