NFL salary cap rises to over 255 million dollars per franchise

The league shared today that its salary cap for the 2024 campaign will be a record 255.4 million dollars per organization – a phenomenal increase of almost 14% over last season’s cap and a sign that the NFL is entering a new phase of exploding revenue.

This campaign’s salary cap will be 30.6 million dollars more per franchise than last season’s 224.8 million dollars – by far the largest increase it has taken from 1 campaign to the next since the salary cap became a thing in 1994.

This news could have a huge impact on the free agent market, which is set to begin in March, as most organizations have been using cap projections in the range of between 240 to 245 million dollars when preparing for the 2024 campaign.

As an illustration, the 49ers, Packers, and Seahawks were projected to be over the cap as of today, but with the new increase, the 3 teams will meet the criteria.

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NFL said the “unprecedented $30 million increase per club in this year’s Salary Cap is the result of the full repayment of all amounts advanced by the clubs and deferred by the players during the Covid pandemic as well as an extraordinary increase in media revenue for the 2024… https://t.co/K5YlJV48DK

— Adam Schefter (@AdamSchefter) February 23, 2024