Position differential is a huge factor here...identify the guy at the bottom of the top tier of players, sign him to a value deal. If your analytics say there is a drop off after the top x amount of guys, collect the guy at the bottom of that x for less.
Run the analytics, sign the best value guy, and keep the leftover coin for other needs, whether that is retaining your own or spending on Revis or AP once they get released.
That does not mean sign the cheapest guy, it means sign the last of the top tier guys. The guy that grades before the dropoff occurs.