This year’s cap is roughly a $30 million increase from last seasons.
The NFL announced Friday its salary cap for the 2024 season will be a record $255.4 million.
The New England Patriots are now currently projected to have $82.9 million in cap room, according to Over the Cap, the second-most in the league. That number can increase even higher, as the expected release of cornerback J.C. Jackson will leave the team with roughly $96 million in room.
New England won’t be shy from using their amply resources to remodel their roster. Last month, head coach Jerod Mayo shared the Patriots are planning to spend this offseason.
“We’re bringing in talent, 1,000 percent,” Mayo said on WEEI. “We have a lot of cap space — and cash. We’re ready to burn some cash!”
Beyond adding outside talent, New England can also used the additional room on their internal free agents. That group is highlighted by offensive lineman Michael Onwenu, safety Kyle Dugger, tight end Hunter Henry, and pass rusher Josh Uche.
The NFL also officially announced the franchise and transition tag numbers, which the Patriots could also use on one of their internal options.
This year’s cap number is a roughly $30 million increase from last season’s number. According to the league, 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.”
NFL free agency will officially open on Monday, March 11, which marks the start of the league’s “legal tampering” period. Players will then be free to sign new contracts on the official start of the NFL’s new year on Wednesday, March 13, at 4 p.m.
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