The NFL has announced that the salary cap for the 2024 season is set to increase by $30.6M to a record setting $255.4M per team.
The 13.6% increase from 2023 is by far the largest single season increase since the implementation of the salary cap system. It’s also a signal that league revenue has reached unparalleled heights following the conclusion of Super Bowl LVIII.
With most teams operating under the assumption that 2023’s $224.8M cap figure would increase to somewhere in the vicinity of $240-245M for the upcoming year, the additional cap space could have major implications on the free agent market which is set to open in March.
In addition to the ever increasing TV and streaming revenues, the massive spike can partially be attributed to the league having now paid back all the player benefits which were deferred from the 2020 COVID affected campaign. With that expense now officially off the books, the league is seeing a financial windfall the likes of which the NFL has never seen.
With the adjusted salary cap figures, here’s the latest projections for each NFL franchise ahead of the March 13th Free Agency period:
| Team | Projected Cap Space |
| Commanders | $87,049,626 |
| Patriots | $82,927,006 |
| Bears | $80,396,157 |
| Titans | $78,655,381 |
| Bengals | $72,836,373 |
| Colts | $72,337,573 |
| Texans | $67,583,290 |
| Lions | $63,743,386 |
| Cardinals | $55,115,463 |
| Raiders | $48,653,311 |
| Buccaneers | $45,521,102 |
| Rams | $45,014,574 |
| Panthers | $40,169,402 |
| Falcons | $38,454,508 |
| Vikings | $37,868,132 |
| Giants | $32,862,691 |
| Eagles | $32,163,513 |
| Chiefs | $27,697,796 |
| Jaguars | $24,683,167 |
| Ravens | $18,538,828 |
| Jets | $15,067,122 |
| Seahawks | $12,969,647 |
| Packers | $8,157,359 |
| Steelers | $7,382,955 |
| 49ers | $834,165 |
| Browns | -$6,222,046 |
| Cowboys | -$8,170,700 |
| Broncos | -$10,713,842 |
| Chargers | -$22,116,935 |
| Dolphins | -$24,789,379 |
| Saints | -$40,071,454 |
| Bills | -$41,742,609 |