Contrary to statements by many fans, who apparently have very short term memories, the Chargers have been pretty active with free agents so far. They have managed to (re)sign the top free agent left tackle, King Dunlap, they signed the top rated offensive guard on the market, Orlando Franklin, signed one of the top return men in the NFL, Jacoby Jones, and (re)signed one of the top 3 free agent corner backs, Brandon Flowers. Along with that, they resigned Ricardo Mathews who was a productive contributor on the defensive line last year, as well as a key piece of depth in center Trevor Robinson.
The team also cut linebacker Reggie Walker and guard Chad Rinehart, who was terrible last year, to free up some additional space.
So where does all of that leave San Diego in terms of cap space?
According to overthecap.com San Diego's current cap spending (which is the top 51 salaries on the team) is at $121,348,680. With the Chargers' adjusted salary cap at $142,411,012 for this season, Tom Telesco is left with $21,062,332 to spend.
The only player that hasn't been taken into account in their numbers is Trevor Robinson, as the exact breakdown of his 2 year $4(ish)million contract has not yet been released. Even assuming on the heavy side that it will be $2mil against the cap this season, that still leaves the Chargers with $19 million and change.
The final consideration is the rookie pool. As the new Collective Bargaining Agreement has set standards for how much rookies can make at each position, it makes it easy to project how much teams should set aside to sign their rookies based on their picks in the draft. For the 6 picks San Diego currently has, the projected rookie pool money is $4,492,053.
That means that all-in right now the Chargers have conservatively about $15,000,000 left to spend. That is plenty of cash to grab players who can come in and contribute as free agency develops. Remember, Danny Woodhead wasn't signed until 8 days into free agency, and Brandon Flowers wasn't signed until months after the draft. TT still has work to do, and he has cash to do it.