God dammit

San Francisco 49ers

Key additions: S Dashon Goldson (franchised), QB Alex Smith (re-sign), CB Carlos Rogers (re-sign), WR Mario Manningham, LB Ahmad Brooks (re-sign), WR Randy Moss, RB Brandon Jacobs, QB Josh Johnson, CB Perrish Cox, WR Ted Ginn (re-sign), LB Tavares Gooden (re-sign)

Key losses: CB Shawntae Spencer, WR Josh Morgan, C Adam Snyder

Analysis: The 49ers are returning the league's best defense intact, even though they had a few prominent players' contracts expire. While they flirted with Peyton Manning (and to me, this is where Manning should have chosen to play), they have significantly improved their offense since the NFC Championship Game. What is curious is that while San Francisco clearly made a massive effort to improve the verticality of its offense with the additions of Moss and Manningham and even the re-signing of Ginn, Smith really isn't an adept downfield passer. Still, the new perimeter speed should open up room for the rest of San Francisco's offense while allowing Jim Harbaugh to utilize more multiple-receiver sets, which obviously is the direction offense in the NFL has gone. It also wouldn't shock me if Colin Kaepernick -- and his huge arm -- finds his way behind center before long.

Grade: A
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Also: Rams and Seahawks got A's (only other teams with A's) and the Cardinals got the lowest grade, a D

Which one, Johnson or Kaepernick, will win the battle to be the Niners' backup? Theder thinks both are capable of beating out Alex Smith for the starting job.

"I think both of them could, yes," Theder said. "I think they're both very talented - much more talented than Alex. I'm an Alex Smith fan. I just think Colin and Josh are both very, very talented kids."

These are the teams for which cap room is just a memory. And for good reason. Each is making a serious run at a title this year, has the horses to do it and is paying the cost. In addition to not having cap room, these teams are also facing another problem -- the luxury tax.

They will have to pay a dollar-for-dollar penalty for being over the tax line, along with what the new CBA penalizes taxpaying teams. For example, their midlevel exception is smaller ($3.09 million, instead of $5 million), and they can bring back a lower amount of salary in a trade than non-taxpaying teams can.

Chicago Bulls, $19 million over the cap, $6 million over the tax line: With Derrick Rose, Joakim Noah, Carlos Boozer and Luol Deng safely in the fold, the Bulls have no real hope of having cap room in the foreseeable future. Their acquisition of Rip Hamilton with the midlevel exception hasn't paid the sort of dividends they were hoping for, so they may need to take another shot at finding a wing shooter this summer.

The Niners were reportedly willing to offer a multi-year deal worth $8-11 million annually by the end of last season. Fitzpatrick's six-year, $59 million deal is valued at just under $10 million per season. It also includes $24 million guaranteed. Indications are the 49ers would prefer a shorter-term, three-year commitment with Smith. Smith's agent, Tom Condon, may be pushing for more years and long-range guaranteed money.

NO NO NO PLEASE NO

But here’s where it gets tricky for the 49ers. With starting quarterback Alex Smith due to be a free agent on March 13 and the Colts not forced to make a decision on Manning until March 8, the 49ers could lose Smith if they don’t move quickly on Manning, who may not be fully healthy at that point.

That’s why the best fit for Manning could be a team that already has a starting quarterback under contract for 2012, giving the team some flexibility because there’s already a Plan A in place. Then, that team could do either what the Jets did to Chad Pennington in 2008 or what the Vikings did to Tarvaris Jackson in 2009 and 2010, if this year’s Plan A+ comes to town.

The 49ers could pull it off by re-signing Smith to a manageable deal, which would leave enough cap room to bring in Manning later. As Rosenthal pointed out Tuesday, Smith’s performance in the NFC title game could mean that the 49ers won’t have to break the bank in order to keep him around.

[Bulls Confidential does a not-so-fruitful exercise as to the Bulls options. -ed.]