There always seems to be a lot of concern about the Raiders' financial situation in the off-season. They have ridden pretty close to the cap limit of late while still managing to add a few free agents here and there. One of the reasons they can do that is because they know they will have around $8 million coming their way in cap spending come June 2 which is this Sunday.
They receive the money from having placed Michael Huff a June 1st designation. For those unfamiliar with a June 1st designation, it allows teams to spread the ‘dead money' of cut players over two seasons instead of taking the entire cap him at once. Typically this would not happen with players cut prior to June 1 but the new CBA allows that team cut up to two players prior to June 1 but with the same rules as if they were cut after June 1. The cap relief is simply not available until June 1.
With Michael Huff's designation, it frees up $8 million in spending under the 2013 cap. The team currently has a projected $1.1 million to spend.
That money, first and foremost, can be used to sign the team's 10 player draft class. Six of those players were drafted in the sixth or seventh round so their cap figure will be negligible. The entire draft class should take up about $4 million which would leave the team with a little over $5 million to spend on free agents, should they choose to do so.
The Raiders will then have about $4 million left over to play with. They could sign a free agent but keep in mind, they went into camp last year with money to spend and then never spent it. They went through the season with $4.5 million available to them unspent. That amount was applied to their cap limit this year and they very much needed it.
Next year, they are expected to have a surplus of salary cap space of nearly $50 million so holding onto some cap space through the season won't be necessary. They can spend look to spend that $5 million as early as Sunday knowing they will have the money they need left over to sign their draft class as well.