It looks like the OBJ sweepstakes (whether you think it is a lottery or a booby prize) is down to Bills, Giants, Cowboys. Assuming he wants more than a rest of the year deal, the Giants are in by far the best cap position to sign him. The Bills are $10MM over the cap next year, the Cowboys have about $2MM of space (which includes rolling over the $7MM they have right now) and the Giants have about $50MM of space (which includes rolling over the $3MM they have in space now - not sure why this shows up that high since I thought they had about $1MM.) Numbers are from Spotrac - one of the five best websites of all time!
It seems to me if we want OBJ, we can have him. I am in favor of making it happen, as long as he is healthy and the downside risk in guaranteed money is limited (say no more then $10MM). We will see. Keep in mind that if we draft a wide receiver in the first round it will cost us between $15-$20MM of guaranteed money. Less if we win the Super Bowl.
Obviously, the reason the Giants have so much more space is that we do not have a starting QB on the roster for next year.