NFL news: 2024 salary cap soars

A record increase for all 32 teams

The NFL is king and the 2024 free-agency period with be a gluttonous time of celebration for the league.

The prosperous league announced Friday morning that the 2024 salary cap for all 32 teams with a massive $255.4 million with $74 million in additional player benefits.

The salary cap increase is much more than most league employees and observers expected. In fact, we’re seeing a record increase as the 2023 salary cap was set at $224.8 million.

Spotrac (which has a reputation for having accurate cap projections) has updated its 2024 salary-cap projections based on the news and the it has the Raiders set to have more than $55 million in cap space. It is the 10th most amount of salary-cap room with the legal tampering period looming in 17 days.

This gives Las Vegas much flexibility with its cap. But the truth is, this news helps all 32 teams and players heading into free agency. Some teams will have more flexibility than expected, but prices go up.

Still, this is great news for all teams. For example, two AFC West teams, the Kansas City Chiefs and the Denver Broncos get unexpected relief.

The Chiefs are trying to figure out how to keep both defensive stars, defensive tackle Chris Jones and cornerback L’Jarius Sneed. The Broncos should benefit from the dead-money hit they’ll face by cutting quarterback Russell Wilson.

Overall, this is great news for all involved and it gives a chance for teams to improve. Now, the question is, how much will the salary cap explode in 2025?