The NFL salary cap is rising. That isn’t news; it happens every year.
The 2024 NFL salary cap, however, is rising by more than 13 percent. That’s news, because it’s never happened before.
An influx of revenue means teams will have more money to spend on player contracts than ever before. While early cap estimates clocked in at around $242 million for 2024, the league crashed over that threshold with a $255.4 million spending limit. That’s nearly $31 million more than the 2023 cap, which itself was a $16.6 million and 7.9 percent increase over 2022’s figure.
This means free agency is going to be more of a feeding frenzy than ever before.
More on the salary cap increase per league memo – pic.twitter.com/nuqW5SwNGP
— Jourdan Rodrigue (@JourdanRodrigue) February 23, 2024
This is a spending boom that would teeter on a bubble if the NFL weren’t such an ever-expanding juggernaut. Franchises will have a ton of money to spend and the comfort that any large salaries attached will only look smaller as the cap continues to grow.
2024’s inflated cap won’t change the way the league does business. It’ll be a boon for the players hitting this year’s marketplace (except for maybe running backs who will still be underpaid) but ultimately business as usual. So let’s see who benefits the most from an unprecedented salary cap bump.
