The Atlanta Falcons didn't emphasize splash moves in the first week of free agency. They did add some key pieces to a defense in desperate need of a makeover. You could make a convincing argument that they've set themselves up for a successful draft. But even so, a healthy faction of the fan base wanted more.
Given the moves they did make, the Falcons still have a ton of cap space. As of now, they have $24.6 million in cap space, 6th highest in the NFL. They will have $37.6 million in cap space next off-season, the 6th lowest amount in the league, but still plenty to work with.
The 2014 number doesn't include the contracts inked by O'Brien Schofield and Antone Smith this week. Neither deal figures to break the bank, leaving the Falcons with well over $20 million in cap space. So what do they do with that money?
Cap genius Thomas Dimitroff likes to keep a little money on hand, for emergencies and midnight runs to Taco Bell. Assuming they set aside a third to half of the remaining cap space for that purpose, a Julio Jones extension remains a real possibility. They could also look to bring back some of the UFAs they let hit the open market. Regardless, I doubt they will just stand pat.