The NFL Salary Cap Has Skyrocketed In 2024
The new NFL league year is a few weeks away from starting, and of course, everyone wants to know what the NFL salary cap will be heading into the 2024 season.
The news was answered Friday afternoon when Jonathan Jones from CBS reported the NFL salary cap would be a recording-breaking 255.4 million.
The 2023 salary cap was $224.800 million, so we will see around a 30 million surge this upcoming season.
Rumors were floating around that the cap would be around $240 million, so it would always be more than in 2023, but adding an extra 15 million was a surprise.
We should see the franchise tag applied to a handful of players this year who were on the border of being tagged since there is more cap room, and we will see many players being overpaid.
It is a good year if you're a free agent demanding a vast market because you'll see a massive payday, and this cap room probably added a few more million dollars to every player's pocket.
Every NFL team has to have cap space room by the time the new league year starts in March, so we usually see teams redo contracts, cut players that have a considerable salary cap hit, trade, and post-June one cuts that can get teams out of some guaranteed money, but the spike in the cap should help some of these teams hold onto some players they were going to have to cut and maybe even help sign their free agents back.
The new league year is set to start Wednesday, March 13th, but teams can begin negotiating contracts with free agents on Monday, March 11th, but they can only become official on the 13th.
Free agency will be enjoyable this season, so everyone get ready for a wild ride.
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