What I am saying would not preclude this (unless you mean for this season). If we had just a salary dump from the Trade deadline until the end of the season, we would have all that cap space at the end of the season.
However, I am usually against signing big name UFAs on principle. I usually don't see big name UFAs as a good thing - I see almost all big name signings as killing cap flexibility and preventing teams from signing their own players. That's is just my view. I think I am usually against signing UFAs because teams always overpay because of competition. I think is might be because I saw Holmgren make so many bad UFA signings that killed our depth and salary cap.
Another reason to be wary of big UFA signings is team chemistry.
If you have a deep talent pool like the Flyers, they play together in the AHL, then on the team a few years, if you sign a big UFA, often times they're "strangers" who are coming for the money and there can be resentment inside the clubhouse, and even more if signing that FA means letting well liked players go, or not resigning players who have "earned" their spot.
You also have much better information about the character of your own players when you extend them than about free agents, and how they'll react after they get their big, guaranteed payday.
Which is not to say never sign a UFA, but pick your spots - one reason I think they went after JVR was he was a known quantity and the leaders in the clubhouse could vouch for him - and a 5 year team was far less risky than a 7 year term.