The NFL announced Friday that the 2024 salary cap number will increase by a whopping $30M million, and somewhere, free agents have started laughing as they make their way straight to the bank.
Per Tom Pelissero and Ian Rapoport of NFL Network, the salary cap number for 2024 is $255.4 million, up from $224.8 million in 2023. The new cap includes $74 million for each team to put towards player benefits like performance-based pay and retired players.
Teams like the New Orleans Saints, who are nearly always in cap hell, will be thrilled, but players who will likely command a larger salary just got a significant leg up. This helps them in negotiations and gives NFL teams one less excuse not to pay for top talent.
The NFL announced today that the 2024 Salary Cap will be $255.4 million per club, with an additional $74 million per club payment for player benefits, which includes Performance Based Pay and benefits for retired players.
— Tom Pelissero (@TomPelissero) February 23, 2024
Salary cap news:
The NFL announced that the 2024 Salary Cap will be $255.4M per club, with an additional $74M per club payment for player benefits, which includes Performance Based Pay and benefits for retired players. Total 2024 player costs will be $329.4M per club, or more…
— Ian Rapoport (@RapSheet) February 23, 2024
Here are seven free agents who will benefit from the 2024 NFL salary cap: