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First, let's take a look at each team's estimated cap room. The fine folks at Over the Cap keep an ongoing record of each team's salary cap situation. As of March 12, the chart only reflects personnel departures, not arrivals, but it will suffice.
| Houston Texans | $10,342,693 |
| Indianapolis Colts | $40,517,130 |
| Tennessee Titans | $20,691,942 |
| Jacksonville Jaguars | $31,922,364 |
Houston Texans
The Texans said goodbye to wide receiver Kevin Walter. Get the full story here, if you haven't already. He will be missed by some fans but none more than head coach Gary Kubiak, who expressed his nauseating displeasure in releasing him.
Gary Kubiak on cutting Kevin Walter: "It made me sick. We still have a lot of business to do, but I'd love to have him back."
— John McClain (@McClain_on_NFL) March 12, 2013
The amount of loyalty Kubiak shows to his players is both admirable and worrisome. It's also funny. Luckily, general manager Rick Smith seems to provide a strong counterpoint of emotional detachment to the players on his roster. It's interesting to see that Kubiak left the door open to bringing Walter back, but I have to believe he'd be able to get more than the veteran minimum elsewhere.
The biggest news, thus far, has been the early departure of H-back, and Rice graduate, James Casey. Get the full story here, if you haven't already.
NFL Insider Adam Caplan and NFL Films guru Greg Cosell break down the film on what exactly the Eagles have bought for themselves. Casey's skill set should right in with Chip Kelly's college-style offense. Good luck, James. We'll miss you.
Other than some vague tweets, there hasn't been much information on free agents Glover Quin and Connor Barwin, but you can read them here and here, respectively. Make of them what you will. Also, Quin will be meeting with the Detroit Lions today. Stay tuned!
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Indianapolis Colts
The Colts were busybodies during the first day of free agency and added five new players to their roster. No big splashes… yet, but general manager Ryan Grigson did well to add depth and competition to positions that were very lacking in 2012.
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Tennessee Titans
The Titans made a bigger splash in signing former Bills guard Andy Levitre for six years and $46.8 million. They also offset the loss of Jared Cook by signing former 49ers tight end Delanie Walker to the tune of 4 years, $17.5 million. Great moves on their part, in my opinion. Levitre should improve their terrible interior offensive line; meanwhile, Walker is much like Casey in terms of versatility and should help the Titans in the receiving game as well as throwing down blocks for running back Chris Johnson. I still believe that the Titans will use their No. 10 overall pick to draft Chance Warmack or Jonathan Cooper to further solidify their blocking.
Interestingly, Cook, who's known more for his athletic ability than his football skills, reunites with the man who drafted him, Jeff Fisher, and the St. Louis Rams. His contract is rumored to be for $8 million dollars per year for five years. That's a lot of faith (and cash) to put on Cook who's merely shown flashes of top tier play.
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Jacksonville Jaguars
The Jaguars were as quiet as the Texans yesterday, but head coach Gus Bradley told fans to, "Trust the plan."
Free agents cornerback Derek Cox and defensive tackle Terrance Knighton are still on the market. Cox is scheduled to meet with the Saints and Chargers, while Knighton will meet with his former coach Jack Del Rio in Denver.
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Leave your thoughts in the comments! I'll keep you updated on the AFC South as more information becomes available.