Joe Banner "Spends It All"

With today's extension of Brent Celek, Joe Banner has pretty much spent all of his cap space.

Two nuggets from Adam Caplan:

@caplannfl Celek's deal I'm told is $33 million total, $11 guaranteed.

Assuming* that $11 million guarantee is a signing bonus (effectively) the cap hit in 2009 is $2.2 million. That eats up most of their remaining space:

@caplannfl No other deals are expected to get extended. The #Eagles, I'm told, were around $3 million under the cap before the Celek deal.

The rest is for emergencies (losing more CBs or WRs, for example).

So despite Joe Banner's insistence that with the massive amount of cap space the Eagles had at the beginning of the off-season, "you couldn't hope to spend it all", he has done exactly that. Well done. As Eagle fans, we should root for a CBA extension in the off-season, because this team will have a huge competitive advantage in 2010 from a cap perspective if we avoid the Uncapped Year. Of course, we have the financial muscle to have the same advantage regardless, but it would really stand out with an extension.

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* Note: if we get more solid details on Celek's contract, I will update this post to reflect that.