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Originally Posted by BossHog
No. If you cannot afford to sign players, you're SOL. And no, there is no 'cap within the cap'. That's why it's expected that we'll renegoiate a few contracts to make more room. A first round pick will eat up a chunk of your cap due to a significant signing bonus. 
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Actually no again sorta...there is a specific part of the Salary Cap designated to the rookies. It is part of the cap and not something extra. You don't have to use it all and the money isn't designated for rookies only. It is there to simply limit the amounts of money rookies can get.