$70.2 million now. That gives our Canucks some breathing room for the upcoming season. With 11 forwards signed:

Sedin-Sedin-Burrows, Booth-Kesler-Higgins, Hansen-Malhotra-Lapierre, Volpatti-Kassian

and 6 defencemen under contract

Bieksa-Hamhuis, Edler-Ballard, Tanev-Alberts

and 1 goalie under contract

Luongo

Vancouver has $14,521,667 of cap space remaining to fill the holes in their roster, according to CapGeek.com.

When you look at it, it's more of a giant relief than "breathing room". The only real drastic raise coming to any Canuck free agent will be with Cory Schneider. But teams usually carry 13 forwards and 7 defence with them everywhere they go, and all count against the cap. That needs to be kept in mind when rosterbating. The Canucks can upgrade significantly at one position or fairly upgrade at more than one position. One thing is for sure...most free agents are going to get overpaid come July 1. I can already hear Mike Gillis complaining about it. So don't expect a Zach Parise or Ryan Suter to come this way unless cap space is moved (ahem Luongo or Ballard).