Miami has $39M in cap space now, and will free up some more if need be. I'm thinking that after putting aside $2M for the draft, money for injuries, exclusive right guys, etc, and Grimes $4M hit this year, we can spend up to $30M THIS year.
As we have seen last year, and with Grimes, the first year contract cap hit has nothing to do with the average of the deal. For example, if we get Monroe for $10M a year, he will likely cost $6M this year, a guy averaging $5-6M will likely cost $3-4M this year but, if you want to include any one year deals, there is no wiggle room.
Have fun filling the needs to set up the draft, as I'm sure Hickey is going to do.