The NFL offseason is officially underway, as the combine takes place this week, while free agency begins next week. Recently, the NFL announced that the official salary cap figure for 2024 would be $255.4 million — which is up from $224.8 million. The $30.6 million increase is the largest in free agency history.
The “football business” is doing quite well, which is good news for all 32 NFL teams, as it gives them more financial flexibility for roster building. Some teams will use this boost to be even more aggressive in free agency, while others will sit back and reconsider cost-cutting measures.
Now that we are approaching free agency, this is a good time to revisit the salary cap situations for every team. Let’s take a look.
Salary cap figures via Over The Cap on Feb. 26
| Team | Cap space |
|---|---|
$79,614,671 | |
$78,524,381 | |
$78,335,157 | |
$78,070,006 | |
$72,075,573 | |
$67,321,290 | |
$57,614,821 | |
$51,104,463 | |
$50,670,373 | |
$43,682,067 | |
$42,936,109 | |
$39,905,695 | |
$35,807,132 | |
$34,572,274 | |
$33,004,013 | |
$30,601,691 | |
$27,469,811 | |
$24,421,167 | |
$17,139,240 | |
$16,631,328 | |
$12,756,122 | |
$12,569,647 | |
$8,906,955 | |
$2,340,288 | |
-$5,046,251 | |
-$7,758,897 | |
-$9,863,127 | |
-$16,811,078 | |
-$25,607,797 | |
-$29,069,894 | |
-$39,879,497 | |
-$43,815,909 |
The Commanders, who also hold the No. 2 overall pick in the 2024 NFL Draft, lead the way with over $79 million in available funds. It’s a good thing, because they have plenty of holes to fill on both sides of the ball. The Titans will be an interesting team to watch as well. They have the second-most available money as it stands, and are prepared to undergo a change in identity with Brian Callahan as the new head coach. The Bears are again sitting pretty this offseason with over $78 million in cap space. They also hold the No. 1 overall pick in the draft for the second straight year.
While the $30.6 million increase was good news, it doesn’t mean everyone is out of the woods just yet. There are currently eight teams still above the cap number, which means they will be limited in what they can accomplish in free agency. The teams worst off are the Saints (-$39,879,497), and the Bills (-$43,815,909). Mickey Loomis and Brandon Beane will have to make some tough decisions to clear space.
