The NFL salary cap for the 2024 season will be $255.4 million, an increase of $30.6 million over the previous year.
The cap went 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 salary cap increase of $30 million per club per year is a result of the reimbursement of money given by clubs that deferred players during the pandemic, as well as an extraordinary increase in broadcast earnings for the 2024 season,” the league said in a statement.
Teams head next week to the NFL combine and get ready for the start of free agency on March 13 with the opportunity to spend more freely.
The salary cap increase could impact how teams use the franchise player tag. The 15-day window to apply this free agency to free agents began on February 20.