With millions to spend, teams getting ready for free agency frenzy

INDIANAPOLIS -- Our economy might be headed for a recession, but the NFL seems immune.

One week before the free-agent signing period kicks off, more teams have more salary-cap space than ever before.

No team has more than the Miami Dolphins, who as of Thursday morning, were a whopping $44 million under the $116 million salary cap. Jacksonville is not far behind at $42 million under.

In fact, 10 teams are at least $30 million under the salary cap, giving them financial freedom they seldom have enjoyed. Those teams include Buffalo, Tennessee, New Orleans, San Francisco, Tampa Bay, Minnesota, Cleveland and Chicago.

Even the teams struggling to get under the cap have little room to make up. As of Thursday morning, Arizona, Indianapolis and Washington were the only three teams projected to be over the salary cap of $116 million.

Arizona is $2.1 million over the cap, Washington $103,000 over and Indianapolis was $230,850 over the salary cap –- but that was before they signed tight end Dallas Clark to a new six-year contract Wednesday.

Thus Indianapolis, Washington and Arizona will have some trimming to do before Friday, Feb. 29, when the free-agent signing period kicks off.

Gilbride, Giants agree on extension

While the Giants attempt to put the finishing touches on a contract extension for head coach Tom Coughlin, New York reached agreement on a two-year extension with its offensive coordinator Kevin Gilbride.

Gilbride's contract was scheduled to run out next month. He was credited with being a key figure in New York's championship run, calling the plays that helped the Giants win the Super Bowl.

Patriots opt not to tag Moss

The New England Patriots chose not to place their franchise tag on WR Randy Moss. He now is scheduled to become an unrestricted free agent next Friday.

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