The Packers reportedly have less cap space than previously estimated.

I'm starting to hear the #Packers aren't in good salary cap shape as reported. Because of cap charges that weren't previously calculated, multiple sources say they are very tight after their most recent spending spree. One source estimated it was close to $5M under. We'll see.

— Tom Silverstein (@TomSilverstein) March 18, 2019

Currently, Overthecap and Sportrac list the Packers with $13.58 million and $13.83 million, respectively.  The discrepancy is in the area of $8.5 million, if accurate.  The NFLPA is still listing the Packers as having the ability to roll over $7.88 million. When I checked the Union's site on March 18, the Union listed the Packers as having $31M in cap space, but that updated this morning to $15.88 million.

I assume that the roughly $5 million in cap space number does not include the cap space necessary to sign the incoming draft class, which Mr. Silverstein estimated at $4 million in a later tweet.  I estimate that the actual cost to sign the draft class if there are no trades at somewhat more, perhaps $4.6 million.  If so, then the Packers would have less than $1 million dollars in cap space available to spend on free agents.

That would certainly explain why Bashaud Breeland signed with the Chiefs.  [With the Chiefs releasing Eric Berry and losing starting cornerback Stephen Nelson in free agency, Breeland may simply have felt that he would have a better opportunity to showcase his abilities in Kansas City.]  It would also explain why the contracts of the four major free agents the Packers signed have such low cap hits for the 2019 season. 

I have seen suggestions on social media that the lower cap space issue came as a surprise to the Packers.  I would be surprised if that were true.  It could be a coincidence that after signing the four major free agents and re-signing Marcedes Lewis and Geronimo Allison that the Packers just happened to have barely enough cap space to sign its draft class, but I doubt it.  While I do not like the structure the team uses to sign players, I see no evidence that Russ Ball has any difficulty crunching numbers.

The Packers are still bringing in free agents for try-outs, though no one has been signed.  That could mean that the $5 million figure for cap space already has deducted enough money to sign the draft class and the Packers have $5 million left to spend on free agents.  If so, the discrepancy would be in the area of $4 to $5M, which could be explained by a few players reaching some incentives, or perhaps the Packers have finally lost their appeal regarding the signing bonus for Martellus Bennett. 

Of course, the Packers could generate more cap space to sign another free agent if they wanted to enough, though the sources are limited.  The roster bonus to Tramon Williams was due on March 15 and Jimmy Graham's was due today, so it would seem unlikely that the Packers would release either player to generate cap savings. 

The NFLPA, Sportrac, and Overthecap all indicate that the Packers have the ability to roll over $7.88 million or so from the 2018 season into 2019.  I have yet to see an official announcement by any team as to rollover amounts, but I think that is the key number. 

We will have to wait for more information to gain a better understanding of Green Bay's current salary cap situation.  Stay tuned.

EDIT: Mr. Silverstein has clarified his previous tweet.  He reports that the Packers have $13 million in salary cap space.  Overthecap and Sportrac estimated that the Packers were $13.5 million and $13.8 million under the cap.  This is not an alarming difference.