The NFL’s 2021 salary cap has been set at $182.5 million, the league announced Wednesday, representing an 8% decline from 2020 due to COVID-19-related revenue losses.

According to projections from OverTheCap.com, that leaves the Seahawks with roughly $20.6 million in cap space when the league’s new year begins next week.

The Seahawks have a number of key needs heading into the free-agency period next week.

Seattle’s release of veteran defensive end Carlos Dunlap on Monday saved the team $14.1 million against the cap. But that also means the Seahawks will have to find a new edge rusher.

Seahawks free agency previews

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Shaquill Griffin is heading into free agency and he’s considered one of the top cornerbacks on the market. Will the Seahawks be able to offer him a multiyear deal, or will they be content to settle for a cheaper replacement?

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Linebacker K.J. Wright and running back Chris Carson are free agents too. Can the Seahawks afford to bring them back?

On offense, the Seahawks need a running back, a tight end and a No. 3 wide receiver. And, yes, Russell Wilson has made it clear he would prefer an upgrade on the offensive line.

Teams can begin to negotiate with free agents on March 15, the start of the “legal tampering period.” On March 17, free agents can sign with teams.

The Seahawks’ $20.6 million in cap space is the 12th-most in the NFL, according to OverTheCap.com. That’s just behind NFC West rival San Francisco ($24 million), and ahead of division rivals Arizona ($14.5 million) and the Los Angeles Rams (who are $33 million over the cap).

Jacksonville ($73.7 million), the New York Jets ($69.2 million) and New England ($68.5 million) have the most available cap space.