The NFL’s salary cap for 2024 will be $255.4 million, up a record $30.6 million from last year. The cap number has gone from $198.2 million in 2020 to $182.5 million in 2021 following the COVID-19 pandemic. It increased to $208.2 million in 2022 and $224.8 million last year.
Quick Read
- The NFL has set the 2024 salary cap at $255.4 million, marking a significant increase of $30.6 million from the previous year.
- The cap has seen substantial growth since 2020, recovering from a dip during the COVID-19 pandemic.
- The league attributes this year’s record increase to the repayment of pandemic-related advances and deferrals, as well as a surge in media revenue for the 2024 season.
- With the higher cap, teams have more financial flexibility for the upcoming NFL combine, free agency period, and decisions on franchise tags.
The Associated Press has the story:
NFL’s salary cap skyrockets to $255.4M, up a record $30.6M
Newslooks- NEW YORK (AP) —
The NFL’s salary cap for 2024 will be $255.4 million, up a record $30.6 million from last year. The cap number has gone from $198.2 million in 2020 to $182.5 million in 2021 following the COVID-19 pandemic. It increased to $208.2 million in 2022 and $224.8 million last year.
“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 season,” the league said in a statement.
Teams are heading into next week’s NFL combine and preparing for the free agency period to open March 13 with an opportunity to spend more freely.
The increased cap total could impact how teams use the franchise tag. The 15-day window to apply the tag to impending free agents began on Feb. 20.
