No not really. The new CBA lets teams roll over money each year. Experts have said the Chiefs could resign their FA's, sign Peyton to a front loaded contract giving him the money he was use to making and still have plenty of money to sign other key FA's.
Not sure if you follow the Eagles or not, but they went crazy in FA last year with about $20 million of cap space, the Chiefs have around $60 million.
Here is the clause from the CBA that allows teams to carry over salary-cap dollars from one league year to the next:
"A Club may 'carry over' Room from one League Year to the following League Year by submitting notice in writing signed by the owner to the NFL no later than fourteen (14) days prior to the start of the new League Year indicating the maximum amount of Room that the Club wishes to carry over. The NFL shall promptly provide a copy of any such notice to the NFLPA. The amount of Room carried over will be adjusted downward based on the final Room available after the year-end reconciliation."
http://sports.yahoo.com/nfl/news?slu..._cap_from_2011
"If a team rolls over 20 million in 2012, and doesn't spend any of it, they can roll that 20 million into 2013 as well.
2012 $120M Cap
Let's say a team rolled over $30M from 2011, and had $90M committed to 2012 already. The team would have $60M in available Cap and have a "soft cap" or "adjusted cap" of $150M. This seems like a nice advantage for a Tampa Bay over the current cap situation in Pittsburgh.
2013 Assume $130M Cap
89% of $130M is $115.7M. It would be wise for this "big cap room" team to spend $115.7M in 2013, so assuming the team has only $90M committed to 2012 and 2013- then they should look to shell out an additional $25.7M in 2012 and 2013.
The CBA ensures that all teams spend the riches of the NFL on the players.
Now, if they are under that 89% floor in 2013, they actually are not in violation until 2016! The team has to add together the 89% floor from the 2013-2016 years Announced Cap and the 4 year total of those combined Announced Cap has to be measured against what the team actually spent in that four year period. If the team was short (think Cincy), the team has to pay out in 2016 to "match up"."