NFL Salary Cap Spikes By Over $30 Million
The NFL told teams today that the salary cap will be $255.4 million per team for the 2024 season, according to an official release.
The cap spiked $30.6 million from its 2023 number, which was set at $224.8 million per team. That number was up from 2022’s cap number of $208.2 million, a much smaller jump of $16.6 million.
The NFL called the jump unprecedented in the official release, and reported that the reason for the unusual jump was due to the full repayment of all amounts advanced by the clubs and deferred by the players during the Covid pandemic as well as an extraordinary increase in media revenue for the 2024 season. The NFL enabled flexible scheduling this past season for Thursday and Monday Night Football games and also began scheduling additional primetime games on days like Black Friday. Coupled with the fact that most networks posted record ratings for football games, the spike is an indication that football, and especially the NFL, is becoming more popular.
With this jump, the Eagles will have over $32 million in cap space for 2024 according to OverTheCap.com. That amount puts them at 17th in the league in terms of cap space. The salary cap is governed by the NFL’s collective bargaining agreement with the NFLPA. Unlike other sports, the NFL’s salary cap is a hard cap that a team may not go over at any time, though during the preseason and while 90 players are allowed on the roster only the top 51 contracts count towards the cap.
The release also indicated that an additional $74 million per club payment for player benefits, which includes Performance Based Pay and benefits for retired players.
