Philadelphia Eagles trade LeSean McCoy to Buffalo Bills for Kiko Alonso, clear huge cap space, according to report

It is safe to say the Philadelphia Eagles are probably going to be big spenders next week when NFL free agency gets started. The team entered today with $32 million in cap space, and now they are clearing a bunch more. ESPN's Adam Schefter is reporting the team will trade LeSean McCoy to Buffalo Bills for Kiko Alonso, with the deal official next week when the new league year starts. The Eagles clear a net of $7,754,054 in cap space with the trade. They save $8.55 million in cap space by unloading McCoy, and take on $795,946 in adding Alonso.

Filed to ESPN: Bills have notified LB Kiko Alonso he is going to be traded to Philadelphia for RB LeSean McCoy. Trade official next week.

— Adam Schefter (@AdamSchefter) March 3, 2015

The team is also expected to release linebacker Trent Cole, which will save the team $8,425,000 in cap space. That would appear to give them over $48 million in cap space. They still have time to make some additional moves, but even if they make no others, they will climb to fifth in total cap space.

The question now becomes how they spend it. Are they going to give Jeremy Maclin a sizable raise? Or maybe they have their eye on one of the many big ticket items on the market. Whatever the case, the Eagles join the list of teams with serious money to burn. The Jacksonville Jaguars are at the top with just over $68 million in space, with the Raiders second at $54 million, the Browns third at $53 million, and the Jets fourth at $50 million. Next week will certainly be just a little bit interesting.