April 20, 2024

NFL salary cap skyrockets with unprecedented increase

The NFL’s 32 teams received some great news on Friday when the league announced the salary cap is increasing by an unprecedented amount.

According to NFL Network’s Tom Pelissero, the NFL is raising the salary cap from $224.8 million in 2023 to $255.4 million in 2024. 

“The unprecedented $30 million increase per club in this year’s Salary Cap is the result of 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 said in a statement.

There will also be an additional $74 million per club payment for player benefits, which includes performance-based pay and benefits for retired players.

It marks the third straight year that the salary cap has increased since it dipped due to the COVID-19 pandemic, and it has officially more than doubled since 2011.