Two weeks ago, the NFL announced the salary cap will be $255.4 million per team in 2024, a huge increase from last year’s cap of $224.8 million.
The unprecedented $30 million increase was unexpected, and it will make things a little easier for the Broncos as they prepare for free agency.
“It impacts us as it just provides more flexibility than we thought we had,” general manager George Paton said at the NFL combine last month. “We felt like we were going to be able to do what we needed to do and then we got the spike. Now maybe we can do more or plan more for the future. So it just provides us and really all the teams with more flexibility moving forward.”
Despite the increase, Denver is still about $14 million over the cap, but there are plenty of in-house moves the team could make to create more cap space. The Broncos made several big splashes early in free agency last year, but they can’t afford to do that again this offseason.
“We’re going to be strategic,” Paton said of the team’s plan for free agency this year. “We’re not going to be as aggressive as last year. … [W]e can’t do that every year and be aggressive like we were last year.”
The league’s negotiating window will open on March 11, followed by the official start of NFL free agency on March 13.
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