The Lions have recently signed three free agents. One Unrestricted Free Agent (UFA) - Corey Smith and two Exclusive Rights Free Agents (ERFA) - Sean McHugh and Greg Blue. Plus I've estimated Brian Kelly's contract. As I noted in an earlier blog, ERFA's may only sign a one-year contract for the league minimum with the team that has their rights. Their player costs are included in the computation of salary cap status on the date that the tender was issued and the fact that they have now officially signed that tender, does not alter the Lions salary cap status. It also appears that the Lions have revoked the tender that they originally offered LaMarcus Hicks and he is now an UFA and free to negotiate a contract with any team.
Sean McHugh - Signed his one year tender for $605,000. Current year cap cost is $605,000.
Greg Blue - Signed his one year tender for $445,000. Current year cap cost is $445,000.
Corey Smtih - Smith has signed a veteran minimum contract in each of the prior two seasons. This year, however, Smith had received interest from other teams including the Texans, Vikings and Packers and consequently signed a contract for more than the league minimum. He signed a one year contract that includes a base salary of $700,000, while other financial details were not disclosed, I'd estimate that the total contract was for $1M, making his current year cap cost $1M.
Brian Kelly - Kelly signed a 3 year contract that will pay him base salaries of $1.25M (2008), $2.4M (2009) and $2M (2010). Other financial details were not disclosed. Based on the salaries, the fact that he bought out the final year of his contract with Tampa Bay and what he's made in the past. I'd estimate that his signing included a signing bonus of $3M. Based on the above assumptions, Kelly's current year cap cost would be $2.25M.
With the additional cap costs for Corey Smith and Brian Kelly, I'd estimate the current year cap status at less than $100,000 under the cap.