Entering the 2023 NFL offseason, the Cincinnati Bengals were in the top six when it came to available cap space. While they're not still in that position, they're still in a good spot, sitting in the top 10.
The Bengals have the ninth-most cap space according to Over the Cap with $16,901,385. The only teams with more cap space than Cincinnati are the Bears, Panthers, Lions, Colts, Packers, Cardinals, Eagles, and Texans.
The main theme with those teams is that they weren't all that competitive in 2022 but the Eagles made it to the Super Bowl and Cincinnati was in the AFC title game so it shows that good teams can still be in a good position financially.
Bengals cap space pre-2023 NFL Draft
This offseason saw the Bengals lose a lot of key free agents but they were able to make a splash signing by bringing in Orlando Brown Jr. The franchise left tackle was the most expensive player the team signed this offseason but everyone figured the team wouldn't make a ton of moves due to needing to extend Joe Burrow, Tee Higgins, and Logan Wilson.
Fortunately, the $16 million they have remaining allows them to take care of those guys and also sign all of their draft picks that join the team at the end of the month.
Regarding the rest of the division, the Ravens are in the bottom 10 with just $3 million in cap space. The Browns have $7.7 million and the Steelers have $9.6 million.