Is it set for owner controls budget? Probably.
Then it doesn't matter how much cash you have, it's all about budget. Then we need to know what your budget is, how much you have in contracts already, how much projected budget room you have, if there are any coach or player expenses yet (if you released someone maybe).
It's probably past arbitration already? Then new estimated arbitration contracts couldn't be a problem then.
If it's set to all money available then cash matters. Might be what Nutlaw said, and I then have no idea. I play with budgets so never encountered it.
9 million is large, but not out of the realm of possibility. There are occurences where a larger amount was giving the same results. For some reason, somewhere, somehow, the game is counting something against you it shouldn't and you get screwed like this. Your problem here may fall into that category, but wouldn't be sure until I had all the numbers... or you can assume it does and cuss, rant and rave, and then accept it (that's what I usually end up doing).
Hopefully this bug will die in the next version finally.