The NFL confirmed the salary cap number for the 2024 season will be $255.4 million per team. The announcement is historic with an increase of more than $30 million compared to 2023 ($224.8 million).
Of course, this gives many franchises a huge margin to work on their rosters just days before the new League Year. According to many reports, owners and general managers expected the salary cap at $240 million. Now, the situation has totally changed.
It’s important to remember that by March 13, all teams must be under the salary cap. In an official statement, the NFL explained the reasons which allowed the league to extend the limit.
“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.”
What is the salary cap in the NFL?
The salary cap is the official limit the NFL establishes to the amount of money each team is allowed to spend on players’ salaries. These were the numbers in the last four seasons.
In 2020, the salary cap was of $198.2 million and then went down to $182.5 million in 2021 due to the financial consequences of the pandemic. In 2022, it was $208.2 million, 2023 had $224.8 million and 2024 will be $255.4 million.
