ESPN: Teams that are helped/hurt by the new salary cap proposal

[Defensewins]

Can someone explain this quote form the article:
"Snyder and Mike Shanahan will have to be creative in how they structure contracts, because the $120 million cap would give them only around $10 million of cap room. On the positive side, the Redskins' current payroll is $75.7 million, meaning Snyder would have to spend close to $45 million in cash to meet the potential minimum floor requirements. Imagine a system that forces Snyder to spend."

Do we have $10M to spend or $45M?
Sorry I did not go back and read 5 full pages of this thread to see if this was already discussed.
Brilliant on the part of Allen to free up space during an uncapped year (2010) so we can have extra spending money in 2011. This was the kind of planning we did not have under the rudderless Snyderatto FO....and yes I add Snyder to the equation in our former Cerratto/Snyder FO failure.