My belief is OTC is wrong on cap space by about $800K. The fact that the Seahawks signed Murphy without any apparent off-setting move, bears that out.
Thanks.
Jason Fitzgerald offers his numbers as a stated close approximation. Sportrac is showing today's cap space at $251,658. For a spread of $664,691 between OTC and Sportrac. The NFL Players Association, which generally lags behind media announcements has the current Seahawks cap space at $2,387,573.
It's my understanding that a team, at this time of the season, can go over the cap temporarily. But is discouraged from signing additional players until back under the cap limit. There is also the contract mechanism of effective date. It's my understanding that the player's union doesn't report cap figures to the public until contracts are summited and accepted by both the league and union. Unpublished details contribute to the generation of different numbers from various sources.