Feb. 3 (Bloomberg) -- The Arizona Cardinals last season went from perennial also-ran to 35 seconds short of a championship. With more money to spend on players next year than any other team, they might be able to stay among football’s elite.

The Cardinals have committed $82 million of the projected $123 million that will be allotted under the National Football League’s salary cap next season -- the least of all 32 NFL teams and unusual for a championship-caliber franchise, said former Green Bay Packers Vice President Andrew Brandt. The Pittsburgh Steelers, who won the Super Bowl over the Cardinals two days ago with a last-minute touchdown pass, have spent $102.5 million.

This means the Cardinals have about $40 million to lock up their best players and sign other free agents that could lead them back to the championship game next season.

“They are in great position for the future,” Brandt, now president of NationalFootballPost.com, said in a telephone interview. “Cap flexibility is always an advantage, and they have a lot of cap room.”

Arizona’s top priority may be re-signing quarterback Kurt Warner, 37, who became a free agent following the Super Bowl in Tampa, Florida. He said after the 27-23 loss that he hasn’t decided whether to retire. Cardinals team President Mike Bidwill said last week the team will try to bring him back.

Other Cardinals who will become free agents include starting linebacker Karlos Dansby and starting defensive end Antonio Smith.

New Stadium

Arizona moved into a $455 million stadium in Glendale, Arizona, in 2006. New stadiums yield about $20 million a year in profit for owners, according to Craig Depken, who teaches sports economics at the University of North Carolina at Charlotte. Since the move, the Cardinals have shown a willingness to invest more in their top players, Brandt said.

The team signed wide receiver Larry Fitzgerald, 25, to a four-year, $40 million contract last spring that guaranteed him $30 million.

Fitzgerald responded this season by catching a team-leading 96 passes for 1,431 yards and 12 touchdowns, and was voted to his third Pro Bowl. In the Super Bowl, he caught two touchdown passes, including a 64-yarder that gave his team the lead with less than three minutes to go. The Steelers scored the winning touchdown with 35 seconds left in the game.

The team has also committed to renegotiating Anquan Boldin’s contract. The 28-year-old receiver caught 89 passes for 1,038 yards and 11 touchdowns this season and was named to his third Pro Bowl. His agreement has two years remaining.

Team Together

“We set our sights on trying to keep this team together, focusing first on our core players,” Cardinals General Manager Rod Graves said at a press conference last week. “Obviously, the perceived value of those players will be a factor we’ll have to contend with.”

Those changes coincided with the best year for the Cardinals since they won their only championship game in 1947. Before this season, they had only one winning season in the 20 years they were in Arizona after moving from St. Louis. They were based in Chicago when they won their only championship game.

Former Washington Redskins and Houston Texans General Manager Charley Casserly said wanting to upgrade talent and accomplishing it are two different things. He said there’s a dearth of quality free agents this off-season.

Core Development

“The Cardinals’ philosophy the last few years has been to sign their own players, develop their talent and improve the core of their team, and I think that’s what they will continue doing,” Casserly, who now works as an analyst for CBS Sports, said in an interview. “You don’t want to spend just to say you spent money.”

The Cardinals’ strength this season was their fourth-ranked offense. Warner, a two-time Most Valuable Player, passed for 4,583 yards and 30 touchdowns. Arizona’s weakness was its 19th- ranked defense, which gave up 331.5 yards a game, 36 touchdown passes and had no player with more than five sacks.

Some of the top free agents that might appeal to the Cardinals include Carolina Panthers four-time Pro Bowl defensive end Julius Peppers, 29, and Tennessee Titans two-time Pro Bowl defensive tackle Albert Haynesworth, 27.

The Cardinals aren’t always the first choice for free agents. Arizona’s philosophy has been to pay larger annual salaries while keeping guarantees and signing bonuses to a minimum, Brandt said.

Player Risks

That’s riskier for players, because they would lose the salary remaining on their contracts if they are cut. It’s also less attractive because up-front cash payments allow players to start investing immediately, which leads to bigger returns over time.

Graves said he will be selective in free agency. The team’s system for drafting and developing talent, re-negotiating contracts for those players who prove themselves and selectively signing a free agent or two got them to the Super Bowl in the first place.

“We approach our cap a little bit differently,” he said. “We don’t eat up salary cap and overpay players because we have cap room. We try to put our money in the places where we feel like it will best serve us.”

To contact the reporter on this story: Curtis Eichelberger in Washington at ceichelberge@bloomberg.net

Last Updated: February 3, 2009 00:01 EST