On Monday, the NFL revealed that the 2023 salary cap number will be a record $224.8 million, up $16.6 million from what it was in 2022.
With that new figure established, combined with the Tennessee Titans’ $1.8 million rollover from their unused 2022 cap space, Tennessee is projected to start the offseason at $23.4 million over the cap, per Over the Cap.
While certainly not an ideal position to be in at the start of an offseason in which the Titans need a major re-tooling on offense, Tennessee has several cut candidates to open up cap space.
As we outlined earlier this month, that list includes kicker Randy Bullock, linebacker Zach Cunningham, outside linebacker Bud Dupree, offensive lineman Jamarco Jones, left tackle Taylor Lewan, wide receiver Robert Woods and quarterback Ryan Tannehill.
If the Titans decided to cut all of them pre-June 1, that would net the team a savings of roughly $66.7 million, which would give Tennessee about $43.3 million in cap space.
On top of those moves, the Titans can restructure players (like Tannehill if he stays) or extend them with contracts that have a low first-year cap hit.
Whatever the case may be, the Titans will have some room to work with this offseason. Whether or not it’s enough to address all of the Titans’ biggest needs to get this team back on track remains to be seen.
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