The NFL has informed teams of an increase in the previously agreed-upon salary cap floor for the 2021 NFL season.
The salary cap floor was originally set at $175 million to address financial concerns related to the COVID-19 pandemic. In a memo sent to NFL teams, the league says they’ve come to an agreement with the NFLPA to increase the salary cap floor to $180 million.
Check it out:
“As you know, one aspect of the agreements negotiated last summer with the NFLPA to address operations during the pandemic provides that the 2021 Salary Cap will be no less than $175 million. Following discussions with the union that addressed both actual 2020 revenues and projected attendance for the 2021 season, we have agreed to increase the minimum Salary cap for the 2021 League Year to $180 million.
“This is not the final Salary Cap for the 2021 League Year, which will be set following review of final 2020 revenue figures and other audit and accounting adjustments. This agreement simply increases the minimum 2021 Salary Cap by $5 million per club, from $175 million to $180 million.
“We will promptly advise all clubs as soon as the Salary Cap is set.“
This new $180 million salary-cap figure is not the final number that NFL teams will have for the 2021 season. The league still needs to do a final review and audit of 2020 revenue figures before coming up with a final number. Upcoming TV deals could also have an impact on what the 2021 salary cap looks like, but it’s hard to know how much they’ll figure into a final number.
This new salary cap floor gives front offices a better idea of the final number they’ll have to work with when the free agency period opens in March. That way they can begin planning in the coming weeks. Typically, the final salary cap number has been announced in late February at the NFL’s annual combine. It’s possible the final salary cap figure might not be revealed until March.
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