NFL Salary Cap , Rises $30.6 Million.
On Feb.
23, the NFL announced that its 2024 season salary cap will be $255.4 million per team, a record high, ESPN reports.
That is 13.6% more than last year's cap and the largest single-year jump since a cap was introduced in 1994.
The change could have a significant effect on the free agent market which opens in March.
That's because most teams were using salary cap projections between $240 million and $245 million as budget guidelines for the new season.
For example, three teams that were originally projected to exceed the cap, the 49ers, Packers and Seahawks, should now fall below the cap, ESPN reports.
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For example, three teams that were originally projected to exceed the cap, the 49ers, Packers and Seahawks, should now fall below the cap, ESPN reports.
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For example, three teams that were originally projected to exceed the cap, the 49ers, Packers and Seahawks, should now fall below the cap, ESPN reports.
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Part of the reason why the NFL was able to increase the cap so much is that the league has finally paid all player benefits that were deferred amid COVID in 2020.
"An extraordinary increase in media revenue" also contributed to the increase, the NFL said.
Between 2013 and 2020, the salary cap was increased by approximately $10 million to $12 million each year.
Between 2013 and 2020, the salary cap was increased by approximately $10 million to $12 million each year.
It dropped by almost $17 million in 2021 because of the pandemic.
But in 2022, it rose to $208.2 million, and in 2023, it jumped to $224.8 million
