NFL Increases Salary Cap to $255.4 Million
Earlier this week, NFL Insider Ian Rapoport reported that the NFL was increasing the Salary Cap to a $255.4 million cap, which is an increase of over 30 million dollars from the 2023 season.
This is an interesting development, as the NFL, statistically, did not have a good season and dealt with a plethora of season-ending injuries to several prominent players such as Aaron Rodgers, Joe Burrow, Nick Chubb, Kirk Cousins, Trevon Diggs, and Tre’Davious White, as well as promising rookies Christian Gonzales and Anthony Richardson.
Although statistically, the NFL had a down year, they received all-time engagement from fans, especially from an influx of fans who associate with a particular famous pop star that I won’t mention (her name rhymes with drift). Although the 2020 rematch of the San Francisco 49ers vs. The Kansas City Chiefs was not people’s desired matchup, the game still garnered a record 123.4 million viewers on all platforms, making it the most-watched program ever.
Thus, the good revenue numbers allowed for the NFL to increase their salary cap, which is good news for every single NFL team, regardless of their cap situation. Every team will benefit from it, but a select few will likely benefit the most.
Teams such as the Houston Texans, who made it to the AFC Divisional Round last year, and have the 2023 Offensive Rookie of the Year C.J. Stroud at Quarterback on a cheap deal, will see an additional 30 million plus added to their 6th most cap space, allowing them to address areas of need such as their offensive line, secondary, and pass rush in free agency.
The Detroit Lions, who fell one game short of the Super Bowl, but still had an incredible season, have even more room to be aggressive with their 7th most cap space, allowing them to be aggressive adding to their defense that ended up being the fall of their 2023 season. They can be uber-aggressive with upgrades with a strong secondary class, which would likely elevate them to Super Bowl favorites if they, say, added star Cornerback Jaylon Johnson in free agency.
Teams like the Dallas Cowboys, Cleveland Browns, and Los Angeles Chargers, who are all in the red in terms of cap space, should greatly benefit from this salary cap increase as well. The Cowboys and Browns were playoff teams last year, and will likely have more flexibility to bring back important impending free agents, and now may even have the opportunity to make a significant addition in free agency. The Chargers, with new Head Coach Jim Harbaugh, may have even more flexibility when they offload aging stars Joey Bosa and Khalil Mack, and this subtraction combined with the increase in cap space should help make their offseason more straightforward.
Contenders like the San Francisco 49ers and Kansas Chiefs will greatly benefit from this increase as well, as they both have important team members who need extensions (Brandon Aiyuk for SF, L’Jarius Sneed for KC — who will also be an impending free agent) that are integral to the team’s success.
This is an overall positive for everyone in the league. As the salary cap increases, teams can be more aggressive in free agency, and conversely, more important players can be retained. With more spending power, more fan engagement may be prompted, more jersey revenue might be facilitated, and the league may continue to grow overall.
But for now, teams, as well as fans, will celebrate this significant change going into the 2024 season.
