The first day of free agency wrapped up with plenty of action, and we are slowly figuring out the numbers involved. The start of the new league year means we switch from the full roster salary cap to Top 51, and the NFLPA has updated their public salary cap report accordingly.
The new report lists the San Francisco 49ers as having $61,849,891 in cap space. They have the second most cap space according to the report, with the Jacksonville Jaguars first at $81,607,007, and the Oakland Raiders just behind the 49ers at $58,932,572.
It is important to note that the report does not reflect all the transactions since the start of the new league year. For the 49ers, it does not include the contracts for Ian Williams or Thad Lewis. For the Raiders, it does not include the contracts for Kelechi Osemele, Bruce Irvin, or Sean Smith. For the Jaguars, it does not include the contracts for Malik Jackson, Chris Ivory, or Tashaun Gipson. The NFLPA and NFL each process the contract, at which point the report will update.
Once all this is processed, the 49ers are likely going to lead the NFL in cap space. I am certain they will sign more free agents than just Thad Lewis, but given how many notable names are off the market, they will still likely have a lot of cap space when free agency ends. And this does not reflect the possibility of trading or releasing Colin Kaepernick or Ahmad Brooks.
If the 49ers trade Kap, or release him pre-June 1, they would clear $8,493,493 in cap space. If they released him post-June 1, it is a little more complicated given the salary guarantee. If the 49ers trade or release Ahmad Brooks pre-June 1, they would clear $4,807,500 in cap space. If the 49ers release him post-June 1, they clear $5,656,250 in cap space.
All of this is to say, it is hard to see this team not having a lot of cap space once the bulk of free agency ends. And given that they do not have a ton of big names to extend at this point on the roster, it is hard to see the team not rolling over a ton of cap space into 2017 free agency. Eric Reid could get an extension, and maybe they extend Daniel Kilgore. Also, if Anthony Davis returns, they would need to account for his salary. But even with all that, they are likely going to have a whole lot of cap space heading into the 2016 season.