Former NFL agent Joel Corry, who writes about salary-cap issues for CBSSports.com, threw out another idea Thursday.
"What makes sense for them in the long run is to do (quarterback) Russell Wilson now," Corry said.
Wilson's contract runs through the 2019 season with salaries of $15.5 million and $17 million the next two years and cap hits of $23.7 and $25.2 million.
Wilson was the second-highest paid quarterback in terms of average per year at $21.9 million when he signed an extension before the 2015 season, behind only Green Bay's Aaron Rodgers, but has since dropped to ninth. He'll almost certainly fall to 10th when free agent Kirk Cousins signs next week. Cousins is expected to get a deal that would surpass the contract the 49ers recently gave Jimmy Garoppolo, which averages $27.5 million per year.
Drew Brees is also expected to soon re-sign with the Saints, and Rodgers and Atlanta's Matt Ryan could also get new deals, all possibly receiving contracts approaching or exceeding $30 million a year.
Wilson likely would want something similar and probably would want to wait to see how the market plays out before re-signing.
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Otherwise, what exactly Seattle plans to do with its added cap room is hard to tell, especially with the free-agent market this year not regarded as overly attractive.
"It's not," Corry said. "You are going to overpay, for lack of a better word, for mediocrity."
Going big in free agency has also never been the Seattle way, with coach Pete Carroll and general manager John Schneider having preferred to build through the draft and then re-sign core players.
And though getting up to between $38 million and $40 million in cap room by Wednesday could move the Seahawks to about the midpoint of teams in terms of available cap space (which will be a fluid standing with most teams making a flurry of moves this week), they could still be fighting an uphill battle for the few elite free agents, such as guard Andrew Norwell, who most expect to sign with the Giants. Ten teams have $47 million or more in cap space.