NFL salary cap skyrockets to $255.4 million for 2024 season, up record $30.6 million from 2023

cbssports.com

The NFL has set the salary cap for the 2024 season, and the times are good for the league.

The official salary cap figure for 2024 will be $255.4 million, up from $224.8 million in 2023 that had previously been a record high. At the rate the league's revenues are growing, each year will always be a new record high in the NFL. The $30.6 million increase represents the largest year-to-year increase in total money in free agency history.

The cap number comes out just as teams begin to travel to Indianapolis for the NFL Combine, where formal and informal meetings with agents of veteran players will take place. Knowing the cap number ahead of all those meetings will help all sides in their business dealings ahead of the start of the league year on March 13.

As recently as last week, teams were budgeting for a 2024 cap in the low to mid 240s. Many teams usually plan conservatively, putting their plan together with a cap number lower than expected just in case anything wonky happens.

More: https://www.cbssports.com/nfl/news/nfl-salary-cap-skyrockets-to-255-4-million-for-2024-season-up-record-30-6-million-from-2023/