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The NFLPA has the Pats' cap space listed at $16,964,036  this morning. Not sure if that includes the LaFell deal. Depends on whether that has been officially filed with the NFLPA yet.  I'm not sure how quickly teams are required to file, though I'm sure it's pretty fast. 

 

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That was before Revis and what looks like a 7 million cap hit this year. 

 

And in regard to the OP the remaining needs can be addressed in the draft as part of the 4 million they will need for a draft class. Pats in great position as they already shored up 2 needs with veteran receivers, 1 of the best cb's in history in his prime, and an impact cb/ safety who is the physical presence we all wanted. Aside from the DT position, and possibly a move TE, everything else is more depth.

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I could be wrong but the way the link I posted reads they only need bout 1.5 in cap space for their 2014 draft choices?

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I thought it was more like $5 million, but not sure exactly.  Mid-round rookies typically have first-year cap hits around $500K, so you could only sign three mid-rounders for $1.5 million in cap room. 

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Just saw this on patsfan.com. Looks like this guy just spit balled some numbers but he is saying that they will need roughly 2 mil for draft picks in cap space.

 

At the time of the draft, the Patriots figure to have far more than 51 players signed or tendered. They will not need any additional cap room in order to draft, since all of the draft choices’ automatic rookie tenders of $420,000 will be below the 51st-highest cap number on the team. The Patriots’ 2014 rookie pool figures to be approximately $4,000,000, although the exact number will not be determined until after the draft. Of the rookie pool amount, only about $2 million will count against the cap, due to the Rule of 51. - See more at: http://www.patsfans.com/salary-cap/?p=216#.UyWdz1yD75w

http://www.patsfans.com/salary-cap/?p=216#.UyWdz1yD75w

 

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That's a good point . . . he's probably right that most of the rookie cap hits will be below the top-51, which means that the Pats don't have to worry about them until cut down day.  Once the regular season starts, all players count against the cap, but until then only the top 51 do.

 

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So do you interpret it to say they only need to allocate between 1.6 and 2 mil in salary cap space  for draft choices based on the rule of 51? If so that would give them a little more flexibility in free agency.

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Yep, I think that could be right.  A late first rounder will have a cap hit around 1.5 million and will be in the top 51 and it's possible a second rounder will be in the top 51 too with a cap hit below 1 million, but beyond that most rookies should be below top 51.  Once the season begins, of course, they've got to get everyone in under the cap. 

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Also if a first, second, or third round pick are in the top 51 then they'll drop a different player out of the top 51.

 

Right now, though, overthecap is actually over-estimating the amount of cap needed by the Pats and other teams to sign their draft picks. Most of the time, when these top picks end up in the top 51, they knock players out of the top 51 who have base salaries greater than the first year min.

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Another good clarification.  What really matters is the difference in cap cost between the new top-51 player and the one that got bumped out.  So if the new player has a 1.2 million hit and he bumps a guy with a 0.7 million hit out of the top 51 the net impact on cap room for the top 51 is just 0.5 million.