Flush with cap room and cash, the NFL underwent its greatest spending spree.
The cap increased by $7 million to $109 million and teams started free agency with a combined $472 million in cap room. In the first 10 days, approximately $1.16 billion in contracts were signed for 65 unrestricted free agents, 12 released players found new teams and a handful of traded players received new contracts.
Even though the 49ers were the big spenders by committing almost $130 million in contracts to four potential defensive starters and wide receiver Ashley Lelie, the spree wasn't as expensive as people expected. Cornerback Nate Clements was the big-ticket item with an $80 million contract. Safety Michael Lewis got $30 million over six years. But linebacker Tully Banta-Cain, Lelie and defensive tackle Aubrayo Franklin were moderately priced in this market.
The surprise spenders were the Patriots. Where was this money a year ago? They signed linebacker Adalius Thomas to a $35 million contract, but the bigger money went to the offense. Receivers Donte' Stallworth and Wes Welker, tight end Kyle Brady and halfback Sammy Morris were part of a $60 million offensive renovation.
Here are the 10 things you need to know about free agency in 2007.
1. Guards were the big winners: Eric Steinbach of the Browns, Leonard Davis of the Cowboys and Derrick Dockery of the Bills each received $7 million-plus contracts. The Chargers re-signed guard Kris Dielman for $6.5 million a year. Though guards are considered the most replaceable parts of an offensive line, this free agency class was so thin that the only way to get any impact at all was paying a guard. Those teams that put off trying to sign a left tackle are going to have problems. Before, a decent left tackle could sign for around $5 million a year. Now, try talking a tackle who believes he's good into signing for less than $7 million a year. Good luck.
2. Slow defensive tackle market: After seeing the Raiders give Terdell Sands a four-year, $17 million deal, the feeling was the defensive tackle market would be hot. It's been frigid. Ian Scott of the Bears is just starting to make trips this week. Other starters such as Michael Myers of the Broncos, Ron Edwards and James Reed of the Chiefs, and Robaire Smith of the Titans haven't been as active as many thought. It's a pretty good draft for defensive linemen, so many teams are waiting until April to get theirs.
3. Backs are interchangeable, apparently: More than a dozen running backs have moved around in trades and signings, which is interesting for a position that doesn't get its due respect. In trades, no team was able to do better than the value of a third-round choice. Ultimately, that's what the Bears received for Thomas Jones and what the Bills received for Willis McGahee (despite getting the volume of three choices).
4. Top players still available: The first 10 days of free agency eliminated 113 of the 307 free agents, but good players are still left. Rams wide receiver Kevin Curtis, armed with a new agent Monday, will get a quick deal, and once he goes, Travis Taylor of the Vikings should get hot. Chris Brown and Corey Dillon are two of the top running backs available. Has anyone mentioned to the Bills that they don't have a runner after trading McGahee? The linebacking market has been slow; Cato June of the Colts and Kawika Mitchell of the Chiefs are the top players left. Three-down linebackers don't grow on trees, and Mitchell played every snap last year and June played 98 percent of them. Chris Draft of the Panthers is another every-down linebacker. The corner market should pick up this week for Nick Harper of the Colts, Tory James of the Bengals, Travis Fisher of the Rams and David Macklin of the Cardinals. Mike Gandy of the Bills is about the only left tackle left. The Jets, in need of a right tackle, may have to re-sign Anthony Clement.
5. Inactive teams: The Ravens, Panthers, Bears, Bengals, Packers, Colts, Giants, Chargers and Titans have sat out the first day of free agency. All the Giants and Ravens have done is trade for a running back. The Ravens don't play in the unrestricted market because they replace lost free agents with compensatory picks as long as they have a net loss of four players or more. The Giants' inactivity has been a little surprising. They are down eight players because of retirement, releases, trades or voided contracts. The Panthers, Bears, Bengals and Colts clearly wanted to wait for the market to quiet down. The Titans and Packers have been a little mystifying. They entered free agency knowing they had a combined $48 million in cap room. Now, the list of players to spend the money on is picked clean.
6. Hot division: The 49ers will clearly be one of the offseason winners with their free-agent pick-ups and seven draft choices in the first four rounds. The Cardinals' moves -- offensive lineman Al Johnson, safety Terrence Holt and cornerback Roderick Hood -- may cause Cardinals fans to hit the snooze button, but at least Arizona was active. The Rams have been quiet winners with the additions of Drew Bennett and Randy McMichael to an already talented offense. To stay ahead of the pack, the Seahawks signed three new defensive starters: safeties Deon Grant and Brian Russell and defensive end Patrick Kerney.
7. Out in the cold: The NFC North is cold, and not because of the climate. The Packers and Bears have yet to enter the market. The Vikings gambled that wide receiver Bobby Wade and tight end Visanthe Shiancoe can be full-time starters. All you can say for the Lions is that they've been busy, replacing Travis Hall with a more expensive Dewayne White and adding Tatum Bell, T.J. Duckett and George Foster to the offense.
8. Trading trend: As expected, more teams are getting involved in trades. Eight trades featuring 11 players highlighted the first week. With cap room not being a problem, teams can trade disgruntled players for some value. The Dolphins added three draft choices in trades for Welker and defensive tackle Dan Wilkinson.
9. Redemption for Raiders? The Raiders have taken a lot of heat, but they had a good day Friday. Dominic Rhodes and fullback Justin Griffith will help the Raiders' offense. Tony Stewart gives them a solid backup tight end. Fred Wakefield could be able to help the power running game as either a big tight end or an offensive lineman. For a team that had only 12 offensive touchdowns, any score is good, and the Raiders scored some points Friday.
10. Best two-team battle: As much as everyone loved how the Cowboys and Redskins battled over $49.6 million guard Leonard Davis, the Seahawks-Broncos two-day contest was fabulous. The Seahawks weren't going to be beaten by the Broncos in trying to land defensive end Patrick Kerney. The next day, the Seahawks couldn't top any Broncos offer for tight end Daniel Graham, who received a staggering five-year, $30 million contract.
John Clayton is a senior writer for ESPN.com.