We all know Miami has $47M in cap space but, that is not all spendable money to sign our own starters and other FA's.
Phins have to set aside $7M for the draft. Aside from the starters, we have nine other FA's to replace, and one may be a vet backup QB, which should run around $7-8M. Teams also try to keep $3-4M available for injuries during the season.
That leave around $30M to spend. We can add to that by cuts or new cheaper contracts for players like Marshall, Patterson, and the players we draft are gong to replace some of our FA's and/or players under contract. I'm guessing we will end up with about $35M, which is VG but, can't go crazy.
We need to understand that the contracts signed will mostly not affect the cap space by the average of the deal. Normally, any player signed for 4-5 years costs 20-30% less than the average in their first year. The main thing is guaranteed money, and adding incentives.
For example, if I said that I wanted to sign Sean Smith to a 5 year, $40M deal, posters would be up in arms. If the terms were a $5M signing bonus, $5M first year salary (guaranteed), 2nd year at $6M, and the last 3 years at $9M, $10M, and $10M (not guaranteed), it's an entirely different opinion.
Just a little food for thought.