The Patriots crashed out of the playoffs following their defeat to the Denver Broncos in the AFC championship and will now look to extend the contracts of key players such as Aqib Talib and Julian Edelman, whose deals run out this year.
Belichick told reporters: "You have the people who work on that in our organization. We'll get together with them.
"We'll get a sense of where we are, what some of the issues are going to be, what some of the options are going to be. We have some players that are not under contract.
"We have some degree of cap space. We have whatever degree of flexibility we have with other things, we have draft choices, we can make projections on what they're going to cost and you start putting that all together."
New England lost in the AFC title game for the second year in a row.