Instead of the guesswork that has gone into this offseason when it comes to how much money the Carolina Panthers actually have to spend in 2016, we know for sure. The NFL has officially set it’s 2016 salary cap at $155.27 million according to Tom Pelissero of USA Today Sports.

The NFL and NFLPA have finalized a 2016 salary cap of a $155.27 million per team, per sources. — Tom Pelissero (@TomPelissero) February 26, 2016

That leaves the Carolina Panthers with an estimated $21,835,540 according to Over The Cap as of right this minute.

The new figured represents roughly a $12 million increase from the 2015 season. It is slightly higher than the figures we had heard earlier this offseason, as things were expected to be between $150 and $153 million.

With the Panthers looking to reduce their current cap hit with the release or restructure/extension of defensive end Charles Johnson, the Panthers could find themselves with closer to $33 million in available space this season. However, the team is looking to sign All-Pro cornerback Josh Norman to a long-term contract or risk franchise tagging him for an estimated $14 million for just the 2016 season.

Even still, the current cap figures have to make not only Panthers general manager Dave Gettleman happy, but the rest of the league. Expect some free agents around the league to suddenly up what they are asking for on the heels of this news.