Yes, Eagles DO have money for DeSean, Vick

Sounds too good to be true, right?

Well, according to SI’s Peter King, the Eagles are just as smart as they think they are.

Even after a whirlwind spending spree over the past few weeks, the Eagles are well under the salary cap. They signed nine players — Cullen Jenkins, Jason Babin, Vince Young, Ronnie Brown, Dominique Rodgers-Cromartie, Ryan Harris, Anthony Hargrove, Jarrad Page, Derek Landri — essentially to one-year deals. None of them are owed any guaranteed money beyond 2011. Yes, they have years promised but NO guaranteed money.

Also, according to King, the Eagles’ official cap number is actually $125.58 million, not the league’s number of $120.38 per team. The Eagles still have $7.79 million in cap space, which is enough to rework Jackson’s deal and turn Vick’s one-year franchise tender into a long-term deal.