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As OVerTheCap explains it, the Rookie Pool is the total cost in cap dollars that a team needs to sign its rookies in the summer. The cap space required to do this is less than the rookie pool. This is because every draft pick signed will replace a player already counting against the cap.

Here is the amount per OTC. The Buccaneers will have a rookie pool of $7,510,623, but it will take up $2,230,623 in cap space.