They are shelling out millions in the process of preparing for the new stadium and will likely have to spend hundreds of millions more. I do not put I past them to tell him to field a team far below the cap to increase profits. That’s is the only logical explanation for him to continue to let homegrown talent walk instead of giving extension, unless he is a complete incompetent fool which is also possible.
The on field salary cap and players salaries has very little to do with the business side of things.