Salary-cap status: Atlanta Falcons

Posted by ESPN.com's Pat Yasinskas

Many of you have been asking where each team stands as far as the 2009 salary cap. It took some digging, but we've got the numbers.

I'm going to do a team-by-team analysis on the cap. Keep in mind, these numbers are very much in flux at the moment as teams sign players to future contracts and incentives reached in 2008 haven't been factored in yet. The cap is expected to be $123 million.

We'll start with the Atlanta Falcons.

Salary-cap status: $20.8 million under the salary cap.

Overview: The Falcons seem to be in a pretty healthy spot. But they've got a lengthy list, highlighted by punter Michael Koenen, of their own free agents that they want to re-sign. They also have to think about the implications of Michael Vick's situation. Obviously, there's no way Vick returns to the Falcons. But, if he comes off the suspended list, the Falcons will either trade or release him very quickly. Vick still has about $15 million in prorated bonus money that is required to be counted against the cap. If he's released, the Falcons could designate him as a June 1 cut and divide the cap hit between 2009 and 2010. No matter how that plays out, the Falcons have some room to work with and they'll probably free up some more space by releasing some players or restructuring contracts. Don't look for the team to be a big player in free agency, but it could make several moves for mid-level free agents.