The NFL has provided teams with clarity by setting the salary cap ceiling at $255.4MM. Franchise tag figures are now finalized, allowing clubs to move forward with their offseason plans with a clear understanding of their financial flexibility. Here is the current landscape of salary cap space, courtesy of Over the Cap:
- Washington Commanders: $79.61MM
- Tennessee Titans: $78.66MM
- Chicago Bears: $78.34MM
- New England Patriots: $77.96MM
- Indianapolis Colts: $72.34MM
- Houston Texans: $67.58MM
- Detroit Lions: $57.61MM
- Arizona Cardinals: $51.1MM
- Cincinnati Bengals: $50.67MM
- Tampa Bay Buccaneers: $43.68MM
- Los Angeles Rams: $43.11MM
- Las Vegas Raiders: $42.94MM
- Minnesota Vikings: $35.81MM
- Carolina Panthers: $34.57MM
- Atlanta Falcons: $33MM
- New York Giants: $30.8MM
- Philadelphia Eagles: $27.35MM
- Jacksonville Jaguars: $24.68MM
- Kansas City Chiefs: $18.19MM
- Baltimore Ravens: $16.63MM
- Seattle Seahawks: $12.97MM
- New York Jets: $12.76MM
- Pittsburgh Steelers: $9MM
- Green Bay Packers: $2.3MM
- San Francisco 49ers: $5.07MM over the cap
- Cleveland Browns: $7.76MM over
- Dallas Cowboys: $9.86MM over
- Denver Broncos: $16.81MM over
- Los Angeles Chargers: $25.61MM over
- Miami Dolphins: $27.92MM over
- New Orleans Saints: $42.11MM over
- Buffalo Bills: $43.82MM over
All teams must ensure they are cap compliant by the start of the new league year. Teams currently over the cap will need to make moves to create space before free agency begins. The recent increase in salary cap will allow teams to have more spending power, but it also comes with risks of future financial constraints. Teams like the Cowboys and Browns will need to address record-breaking cap hits for their quarterbacks in the coming year.
The higher-than-expected salary cap ceiling for 2023 will impact teams’ financial planning and decision-making. Teams with top draft picks may benefit from having rookie contract quarterbacks, allowing for more aggressive approaches to free agency. The success of teams like the Chiefs with high QB investments has shown that it is possible to win Super Bowls with significant cap commitments to key players.
