The Beginner's Guide to Understanding 2016 NFL Free Agency

We are on the cusp of NFL free agency. The franchise tags are set, the rumors are flying and the money will be flowing soon.

The action will be dizzying, and you might need to catch up. We've got you covered, though.

Let's get a bird's-eye view of free agency as we head into the 2016 league year—the basics of what you need to know about free agency on a macro scale.

The 2016 Salary Cap

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To those who have followed the salary cap in recent years, a jump from $143.28 million to $155.27 million, as reported by the Associated Press, via USA Today, shouldn't be surprising whatsoever.

Ever since the latest collective bargaining agreement was drafted, the cap has steadily risen. It remained flat the first year because of the lockout, but it has hovered around an eight percent increase in each subsequent year.

The increase this year represents a 8.4 percent jump.

That's good news for just about the entire league when it comes to salary-cap space, but it's even better for the players, whose contracts should balloon proportionally if the market works out normally.

The Franchise Tag

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The franchise tag can be a blessing and a curse for both players and teams.

On one hand, players get a huge salary guaranteed for one season based on the average of the top five contracts at the position. That is assuming he signs the tender, which almost always happens.

On the other hand, there is no long-term protection—defensive tackle Henry Melton tore his ACL while playing on a franchise tender a few years ago, likely costing him millions in future money.

For teams, the franchise tag provides a mechanism to keep their star players, whether they like it or not. This helps teams retain top talent, but it could cause some acrimony among said players while they are trying to negotiate long-term deals.

The tag can add a huge cap number depending on the position, too.

Having said all that, let's take a look at a few notable players who got hit with the franchise tag this season:

Von Miller, OLB, Denver Broncos ($14.13 million)

There was no doubt the Broncos were going to keep their Super Bowl MVP. A rare game-changer on the defensive side of the ball, Von Miller will terrorize opposing quarterbacks for years based out of the Mile-High City.

Of course, Denver will need to negotiate a long-term deal first.

Alshon Jeffery, WR, Chicago Bears ($14.60 million)

After letting Brandon Marshall go a year ago, the Bears were definitely not going to let Alshon Jeffery get away. Who would be left to catch the ball for quarterback Jay Cutler?

If recent history is any indication, though, Chicago will be able to parlay the franchise tag into a long-term deal in no time—Dez Bryant and Demaryius Thomas got deals done relatively soon after getting tagged a year ago.

Muhammad Wilkerson, DE, New York Jets ($15.70 million)

The rumor mill whirls again in New York as Muhammad Wilkerson garners trade interest. ESPN.com's Rich Cimini and others have speculated about Wilkerson's trade value, much like a year ago when Wilkerson was rumored to be disgruntled and on the market before the draft.

The Jets could ill afford to lose him unless they get a fantastic return, though, so don't hold your breath.

Kirk Cousins, QB, Washington ($19.95 million)

You like that? Kirk Cousins probably doesn't.

Washington's breakout quarterback is seeking a huge long-term deal, and having to prove it on a one-year contract is less than ideal for a guy who barely proved it last year against a relatively easy schedule.

Josh Norman, CB, Carolina Panthers ($13.95 million)

One of the league's best cornerbacks is going to get paid one way or another. The Panthers locked him in for 2016, but he should get a long-term deal done with the team that drafted him. 

Olivier Vernon, DE, Miami Dolphins ($12.73 million)

Olivier Vernon is in a bit of a different position than his tagged counterparts.

The Dolphins only hit him with the transition tag, worth $12.73 million rather than $15.70 million. The difference here is that teams can sign Vernon without losing draft picks—the transition tag merely gives Miami the first right of refusal.

Miami was in this situation last year with tight end Charles Clay, who ultimately signed a ridiculous deal with the Buffalo Bills. The Dolphins let him walk, which is what they'll do with Vernon if he signs a massive deal elsewhere.

Teams with the Most Cap Space

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Jaguars GM David Caldwell is flush with cash to spend this offseason.

Jacksonville Jaguars

Cap Space: $82.24 million

You read that right—the Jaguars have over half the projected salary cap's worth of space.

Jacksonville is in the enviable position of having the most cap space in the league heading into the offseason. A big reason for that is the fact they have a starting quarterback playing on a rookie contract. 

Blake Bortles still has two years left before eating up a huge chunk of the salary-cap pie. In the meantime, the Jaguars can lure free agents to Jacksonville with more money than most other teams can offer. They can also front-load big contracts to make way for Bortles down the road.

San Francisco 49ers

Cap Space: $62.25 million

All that mockery about Colin Kaepernick's contract amounted to nothing—the 49ers have no cap issues despite his massive extension a couple of offseasons ago.

San Francisco has so much cap space that the team can afford to cut bait if Kaepernick is too far gone—he would count for $7.4 million in dead cap space, a number the 49ers can easily absorb.

Oakland Raiders

Cap Space: $60.01 million

After years stuck in cap hell, the Raiders have risen to heaven.

Actually, they have been in pretty good shape for a couple of offseasons now. General manager Reggie McKenzie just hasn't made any real splash signings.

Should he choose to make a splash this offseason, he should have plenty of capital to do it. If it weren't for the franchise tag, the Raiders would be in play for the likes of Von Miller and Josh Norman. Alas, they will have to settle on bidding for guys like Malik Jackson.

Tampa Bay Buccaneers

Cap Space: $57.39 million

The Buccaneers landed their franchise quarterback in the draft last year, and they were surprisingly competitive in the NFC South. Now they have the cash flow to be able to put pieces around their centerpiece and shore up the defense, should they choose to use it.

New York Giants

Cap Space: $56.56 million

A new regime is in town. Could it mean a slew of new faces via free agency?

The Giants have the money to throw at free agents, to be sure. The roster isn't in terrible shape, and quarterback Eli Manning is a proven champion. Granted, he's only a few years younger than his now-retired brother—the Broncos announced Peyton Manning will retire after winning Super Bowl 50—but the younger Manning hasn't shown any signs of a dramatic falloff.

So does New York surround him with the best talent money can buy, or do the Giants try to pony up on defense like the Broncos did?

Teams with the Least Cap Space

Associated Press

New York Jets

Cap Space: $6.44 million

The 2015 chickens have come home to roost as the Jets find themselves in a relative hole with the salary cap. They were forced to tag stud defensive end Muhammad Wilkerson, which ate up a huge chunk of the cap space they had.

Hopefully they can get a deal done with him sooner than later to free up that cap space again, though.

Pittsburgh Steelers

Cap Space: $7.82 million

As has been the case in recent seasons, we have seen little front-office activity in Pittsburgh. The Steelers have been sitting on $7.82 million of cap space and done nothing about it, yet.

A lack of cap flexibility is also a disturbing annual trend for the Steelers, who don't have the luxury of being recent Super Bowl champions to appease their fans. Pittsburgh outperformed expectations last season after a quiet free-agency period—the Steelers may not be able to afford to skimp again.

Dallas Cowboys

Cap Space: $8.94 million

The Cowboys have a lot of problems to fix and not much cap space to fix it with. They will need to make some roster and contract adjustments to create space, but it looks like they will have to address most of their needs in the draft.

Denver Broncos

Cap Space: $9.05 million

The Broncos traded one debt in for another this offseason. Peyton Manning's retirement saves them $19 million, most of which they have wrapped up in the franchise tag for outside linebacker Von Miller. Once he signs a long-term deal, though, that should also be freed up.

Of course, they also have quarterback Brock Osweiler and defensive end Malik Jackson to worry about.

New Orleans Saints

Cap Space: $9.6 million

Believe it or not, this is a massive improvement over last offseason for the New Orleans Saints, who were tens of millions over the cap before making moves to get under.

AFC Team Needs Heading into Free Agency

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AFC East

Buffalo Bills

The offensive line won't take a huge hit now that Cordy Glenn is locked in under the franchise tag, but the defensive line could definitely use some bolstering. The Bills had to cut defensive end Mario Williams to free up cap space, thinning out the pass rush in the process.

Miami Dolphins

Ndamukong Suh's restructured contract gives the Dolphins breathing room and, perhaps, the ability to sign a cornerback or three. Or linebackers. Or safeties.

New England Patriots

New England's offensive line was mauled in the playoffs last season. The Patriots could also use a quality big back to complement Dion Lewis, assuming the latter returns to form after tearing his ACL last season.

New York Jets

The Jets dramatically improved their defense on paper last season only to see cornerbacks Antonio Cromartie flail and Darrelle Revis show his age. They need to upgrade the pass rush to buoy a secondary that was supposed to be the team's strength.

Potentially losing Bilal Powell and Chris Ivory would make running back a priority as well.

AFC North

Baltimore Ravens

There is some flexibility in Baltimore now that Joe Flacco has agreed to an extension that grants his team some cap relief. The Ravens need to get him some help at wide receiver, and they need to retain some of their own offensive line talent.

Baltimore also needs help on defense, particularly cornerback and linebacker.

Cincinnati Bengals 

All in all, the Bengals won't have any major issues if they can keep their own free agents. But that is the rub—are they willing to pay up?

For example, losing Marvin Jones could leave the Bengals scrambling to fill the wide receiver position up with some talent. Ditto at linebacker and cornerback.

Cleveland Browns

When will the quarterback carousel end in Cleveland? Probably not in free agency, though that is the team's biggest need right now. Having the No. 2 pick in the draft should shore that area up better than what the Browns could find in free agency.

Whoever lines up under center will need someone to throw to. Travis Benjamin could potentially leave in free agency, and who knows what will happen with Josh Gordon. 

Pittsburgh Steelers

That secondary in Pittsburgh has been putrid for some time now. With several players in that unit set to hit free agency, now is a good time to hit reset on the back end of that defense.

AFC South

Houston Texans

Perennially a strength for the Texans, the offensive line faces some trouble this offseason. Free agency and injuries could ravage the unit, leaving whoever Houston lines up under center in a world of hurt if it doesn't address the situation.

Speaking of which, will Houston try to fix the quarterback situation in free agency again? That will be a big need going forward, as will the running back position after Arian Foster's release.

Indianapolis Colts

Are the Colts going to protect Andrew Luck? 

Jacksonville Jaguars

With the most cap space in the land, Jacksonville can practically fill all its holes with dollar bills. The offense turned a corner last season under second-year quarterback Blake Bortles, but that defense needed a ton of help.

That is especially true on the back line—safety and cornerback.

Tennessee Titans

They might be out of quarterback purgatory, but the Titans need to make sure they don't venture back there by surrounding Marcus Mariota with bad talent.

AFC West

Denver Broncos

What could the reigning Super Bowl champions possibly need in free agency? It depends—will the cupboard get raided?

Peyton Manning's retirement means Brock Osweiler is a major priority. Outside linebacker Von Miller is locked in with the franchise tag, presumably en route to a long-term extension. That means standout defensive end Malik Jackson could be on his way out because of economics, leaving a huge hole on the defensive line if so.

Kansas City Chiefs

The Chiefs took a big step on offense when they signed Jeremy Maclin last offseason, but the wide receiver position is dangerously thin. 

Oakland Raiders

Oakland lost an all-time great in Charles Woodson, further depleting a really bad secondary from a year ago.

San Diego Chargers

The Chargers could be up a creek at tight end whether they re-sign 35-year-old Antonio Gates or not. Trying to fix that woefully inept offensive line, an annual issue in San Diego, should take precedence, however.

NFC Team Needs Heading into Free Agency

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NFC East

Dallas Cowboys

The Cowboys weren't the same without DeMarco Murray last season. The reigning rushing champion wasn't the same without that offensive line, either, but that's another story.

Dallas has a number of needs, though, especially at cornerback and linebacker. Since the Cowboys won't likely look to find Tony Romo's heir in free agency, they can shore up the defensive side of the ball on the open market.

New York Giants

The Giants need to upgrade their pass rush in a big way, especially if Jason Pierre-Paul leaves in free agency or doesn't return to form if they do work out a deal.

Philadelphia Eagles

Now that Sam Bradford is back, the Philadelphia Eagles need to find a way to prop him up. While the offensive line could use some help, Bradford's weaponry needs an upgrade, too.

Of course, none of that will matter if the secondary is a sieve again. The Eagles need to spend smarter at cornerback, where they blew their wad on free-agent bust Byron Maxwell a year ago.

Washington

Well, Kirk Cousins will be back for at least one more season. He'll need someone far better to snap him the ball.

Washington needs help up the middle on both sides of the ball, with middle linebacker and running back needing upgrades as well.

NFC North

Chicago Bears

It won't be too much longer before the Bears are rid of Jay Cutler. For now, they need to replace the pieces all around him. The offensive line has never been great for him, and the Bears don't have any proven weapons besides oft-injured Alshon Jeffery at this point.

Detroit Lions

Calvin Johnson's sudden retirement leaves a gaping hole on offense for the Detroit Lions, assuming he doesn't change his mind, at any rate.

That said, Detroit has bigger fish to fry, specifically in the trenches. The once-vaunted defensive front has been ravaged by free agency over the years, and the offensive line is in constant need of repair.

Green Bay Packers

Injuries were the real culprit in Green Bay's demise last season. The offensive line was simply not deep enough to absorb those losses, though, and quarterback Aaron Rodgers suffered for it along with the rest of the offense.

Minnesota Vikings

Could safety George Iloka reunite with his old defensive coordinator in Minnesota? The Vikings could certainly use him opposite Harrison Smith. The offensive line could also use upgrades at almost every position, if the Vikings can muster it.

NFC South

Atlanta Falcons

What don't the Falcons need to address? Aside from quarterback and running back, Atlanta could use either upgrades or serious depth at just about every position.

Carolina Panthers

If the Super Bowl was any indication, right tackle was a major area of need.

Of course, there may not be many offensive linemen who could have reasonably withstood the barrage that outside linebacker Von Miller threw at them. Still, the Panthers were playing on borrowed time with Mike Remmers starting.

Beyond that, Carolina sorely needs to bolster the cornerback corps around Josh Norman, though injuries were the biggest issue there last season.

New Orleans Saints

If defense wins championships, the Saints are in trouble.

Long saddled with one of the worst units in the league, New Orleans could stand to upgrade just about everywhere on that side of the ball. Getting younger on offense should be a priority, too, considering how old some of the biggest contributors at Drew Brees' disposal were last season.

Tampa Bay Buccaneers

Like many other teams, the Buccaneers need help on defense. The pass rush and secondary were just abysmal last season. 

NFC West

Arizona Cardinals

The Cardinals were one of the most complete teams in the NFL last season, but that doesn't mean they were without needs. That defense was great in 2015, but a better pass rush would have made it elite.

San Francisco 49ers

Who knows where the Colin Kaepernick saga will lead. If it leaves the 49ers without a quarterback, that will become a huge priority in the offseason.

Whatever the case may be, San Francisco needs to bolster the wide receiver corps. Signing Torrey Smith last offseason was a valiant effort, but he was a disaster in his first season with the team from a production standpoint.

Seattle Seahawks

The offensive line became a real issue for the Seahawks last season, and now they might lose their starting left tackle in free agency. 

Los Angeles Rams

Two quarterbacks are already off the market, but Case Keenum—the best quarterback in St. Louis last season—is a restricted free agent. It's never a good time to need a quarterback in the NFL, especially with a middling first-round pick.

Salary cap and contract information courtesy of OverTheCap.com.