Previewing Philadelphia Eagles' 2015 Salary Cap Situation

For just the second time in franchise history, the Philadelphia Eagles reached the 10-victory plateau but failed to reach the postseason. After a 9-3 start, the Eagles dropped three straight games to officially eliminate themselves from playoff contention before Week 17. 

For 12 NFL teams, the month of January will bring Super Bowl aspirations, but for the remaining 20 teams, it's the beginning of a long and painful offseason. Even though the Eagles will be picking 20th in the draft, meaning they were the best team in the league to miss the playoffs, they have a long way to go before they can be considered a Super Bowl contender. 

Their problems start at quarterback, where the duo of Nick Foles and Mark Sanchez combined to lead the league in turnovers this season. But the Eagles also have a number of holes to fill on the defensive side of the ball, notably in the secondary, where the 2015 season could bring as many as three new starters.

Over the next eight months, general manager Howie Roseman and head coach Chip Kelly will have the opportunity to assess this football team from top to bottom, but mark my words, they've already begun.

According to ESPN's NFL Insider Adam Schefter, the NFL believes the 2015 salary cap will be between $138.6 million and $141.8 million. The NFLPA believes a substantial increase will be added, with the league potentially adding $10 million more to the projected $140 million total.

The Eagles will carry over $15,757,296 in salary cap space from the 2014 offseason, the third-highest figure in the National Football League, per Over the Cap. Give credit to Howie Roseman. He's one of the best in the business at maximizing salary cap space. 

Currently, the Eagles have $136,001,156 committed to players for the 2015 salary cap, per Over the Cap. That's $69,471,882 on the offensive side of the ball, $62,623,686 on defense and $3,663,333 on special teams. 

The extra space the team is carrying over from last offseason will be extremely helpful because without last year's savings, the Eagles wouldn't have much to spend in free agency this spring. Then again, Kelly has proven that he doesn't like to make big splashes in free agency. 

Kelly likes to add mid-range starters and special teams pieces, choosing to build his team primarily through the draft. His biggest signings during his two years with the team have been Connor Barwin, Malcolm Jenkins and Cary Williams, not franchise cornerstones like Darrelle Revis or Jairus Byrd, even when filling a position of need. 

The Eagles have a number of veterans who will likely either be cut or asked to restructure their contract this offseason. Among them are running back LeSean McCoy ($11.95 million), tight end James Casey ($4 million), guard Todd Herremans ($5.2 million), inside linebacker DeMeco Ryans ($6.8 million), outside linebacker Trent Cole ($11.625 million) and cornerback Cary Williams ($8.16 million), per Eagles Cap.

The Eagles will probably try to keep three or four of those six players, but by restructuring a few of the contracts, they could likely save $10 to $12 million in space.

Had Foles played as well as he did in 2013, the Eagles were prepared to offer the former third-round pick a sizable contract extension. But Foles' well-documented struggles mean he will enter the final year of his rookie contract without a long-term deal.

A number of other members of the 2012 draft class, notably defensive end Fletcher Cox and inside linebacker Mychal Kendricks, will receive multi-year contracts. But a year ago, the Eagles were expecting to be handing out contract extensions to Foles, Cox, Kendricks and nickel cornerback Brandon Boykin.

Now it appears that only Cox and Kendricks will be extended, as Boykin, like Foles, will enter his fourth year without a new deal. So, solely for salary cap purposes, that's some unexpected extra money for the Eagles to spend. 

Looking at the current team, it's obvious that an upgrade is needed at a number of positions on the defensive side of the ball. The area most obviously in need of improvement is the secondary, where the Eagles could hypothetically look to replace three of the four starters from 2014—all but Malcolm Jenkins. 

There's a chance that Darrelle Revis could become a free agent if the Patriots don't want to pay him $20 million in 2015. Revis will be 30 this offseason, but he's still one of the best cornerbacks in the league. However, the Eagles had plenty of cap space last offseason and there were no reports of them trying to acquire him. 

But after yet another year of Williams, Bradley Fletcher, Nate Allen and the league's worst pass defense, the Eagles might feel it's a necessity to upgrade with one of the game's elite players. 

Another position of need will be outside linebacker. The Eagles could try to bring back Cole, who will be 33, on a restructured deal, or they could look to lock up former first-round pick Brandon Graham to a long-term deal. But Graham, a better fit for a 4-3 defense, may look to explore his options with another team.

Kansas City's Justin Houston, who recorded a ridiculous 22 sacks this season, will be a free agent, but the Chiefs will undoubtedly place the franchise tag on him or sign him to a long-term contract extension. 

More realistic options for the Eagles in the back seven of their secondary include players like Jason Worilds, Brian Orakpo, Byron Maxwell and Kareem Jackson. 

Through two years of the Chip Kelly era, we've seen the head coach's work in free agency. He hasn't yet gone all-in. In fact, the only two times the team did so under owner Jeff Lurie were in 2004, when the Eagles traded for Terrell Owens and signed Jevon Kearse, and in 2011, which is now known as the infamous "Dream Team" spending. 

Maybe Kelly is the type of head coach who will choose to spend a lot of money when he thinks the team is close to being a Super Bowl contender. But it's hard to argue that the team is there now when it's apparent that the most important position on the team is a big question mark. 

The Eagles will have plenty of money to spend in free agency this spring, but it's hard to see this team going all-in for a superstar or two. Expect a few new starters on the defensive side of the ball, but don't expect a repeat of 2004 or 2011.