You're looking at the numbers as of now when we have only 44 players under contract for 2026 and before additional restructures that it will take to sign free agents that they are supposedly going to sign, plus those new players contracts. That cap space will be gone shortly.
I think it was Ross Jackson that indicated a June 1st cut in 2026 counts 19M in 2026 and the rest (35?) in 2027. Another fiscally responsible year and we’ll be in the black.