NFL free agency 2020: 5 teams with most money to spend

All figures are from Over The Cap with a projected salary cap of $200 million.

5. Dallas Cowboys – ($81 million)

Like most of the teams on this list, the Cowboys have plenty of high-profile free agents to sign. For owner and general manager Jerry Jones, this offseason is about getting quarterback Dak Prescott and receiver Amari Cooper back in the building, along with perhaps taking a run at cornerback Byron Jones. If the Cowboys use the transition and franchise tags, they would be looking at more than two-thirds of their cap space being allocated before free agency even starts.

4. Tampa Bay Buccaneers – ($81.5 million)

Another team that might be using both tags. The Buccaneers have to hold onto edge rusher Shaquil Barrett after he led the league with 19 sacks, while quarterback Jameis Winston is also up for a new deal. Again, tagging both would easily eat up more than $50 million in space. Tampa Bay could try to sign one or both to long-term deals and bring down their first-year cap charges, but that won’t be easy. The players have the leverage right now, knowing the team is almost forced into tagging them and having huge numbers on their sheet.

3. Buffalo Bills – ($81.8 million)

Buffalo is actually in good shape. The Bills will want to re-sign defensive tackle Jordan Phillips after he led all AFC players at the position with 9.5 sacks. However, Buffalo doesn’t have many other players to lock on this season. General manager Brandon Beane can be aggressive and try to add pieces around quarterback Josh Allen as he did last year, when he signed center Mitch Morse, receivers John Brown and Cole Beasley, and tight end Tyler Kroft.

2. Miami Dolphins – ($91.4 million)

The Dolphins are rebuilding, so don’t look for them to have a huge outlay of cash. Miami might try to fortify the offensive line should it be planning to take a quarterback high in April’s NFL Draft. Beyond that, it wouldn’t make much sense for general manager Chris Grier to spend lavishly. He’ll probably try to find a piece here and there on the second and third tiers.

1. Indianapolis Colts – ($91.8 million)

The Colts were among the teams with the most cap space last year and largely didn’t spend money. Now that Andrew Luck is retired, does general manager Chris Ballard keep that approach or change course in an effort to help out Jacoby Brissett? The guess here is Indianapolis stays relatively conservative, but don’t be surprise if Ballard tries to upgrade on defense.