4. Cincinnati Bengals - $59,436,373
It seems like the Cincinnati Bengals have a ton of cap space each year. Joe Burrow's cap hit in 2024 is a hair under $30 million, so his contract has not really kicked in yet. One of their biggest decisions is what to do with Tee Higgins, their stud wide receiver. The main issue here is that the Bengals have another stud receiver in Ja'Marr Chase who is eligible for an extension.
Chase is the better receiver, but Higgins is very, very good. The Bengals seem to have enough flexibility to extend both Chase and Higgins, but they might opt to franchise tag the latter. The Bengals might be wise to invest a bit into their defensive line, and their young secondary could use a strong, veteran presence. Whatever they decide to do, they have money to do it.
3. New England Patriots - $66,032,006
The New England Patriots might have the worst roster in the NFL. The team needs talent everywhere on offense. They should start by selecting a franchise QB with their first-round pick in 2024. Their best free agent is G/T, Mike Onwenu. There really is no reason to bring Onwenu back into the mix, as he is their best player.
With nearly $70 million in cap space, the Patriots could sign a top free agent if they wanted, perhaps at wide receiver. The team is multiple offseasons away from competing, so I don't think they will be urgently wanting to build their roster through this year's FA cycle.