Projected cap space and extension dollars do not line up.

I'm encountering a strange glitch in year 1 of my Ottawa Senators franchise mode. When I look at next year on the Contracts it gives me a projected cap hit of $76.8M, which I have referenced with Puckpedia and is accurate given the extensions I have signed. That leaves me (accounting for buyouts and retained salaries - both accurately reported on the Contracts page) with about $9.8M in cap space next year. Again, the right number.

For some reason though, when I go to extend a player, it shows me that I only have $3.285M in available extension dollars. Tested and it blocked me from trading for a $3.5M player signed through next year. I've created a new test save, and prior to any action, the same glitch persists. Does anyone know what might be causing this? I'm using my own custom roster where I took the EA November 1 roster and just edited some ratings, so I don't see why that would be bricking things.