The NFL announced on Friday that the 2024 salary cap number will increase by $30M million, exciting free agents who are now laughing all the way to the bank. According to Tom Pelissero and Ian Rapoport of NFL Network, the salary cap number for 2024 is $255.4 million, up from $224.8 million in 2023. The new cap includes $74 million for each team to allocate towards player benefits such as performance-based pay and retired players. Teams like the New Orleans Saints, who often struggle with salary cap issues, will be pleased with this news. This increase in salary cap gives players negotiating leverage and eliminates one of the concerns NFL teams might have about paying top talent.
Here are seven free agents who stand to benefit from the 2024 NFL salary cap:
- (Matt Pendleton/USA TODAY Sports) 2023 team: Buccaneers Age: 31 2023 avg. salary: $16,500,000 Market Value: 4 years — $95,343,536; avg salary — $23,835,884
- (Brad Rempel/USA TODAY Sports) 2023 team: Vikings Age: 30 2023 avg. salary: $17,000,000 Market Value: 3 years — $60,114,213; avg salary — $20,038,071
- (Scott Galvin/USA TODAY Sports) 2023 team: Chicago Bears Age: 30 2023 avg. salary: $14,600,000
- (Harry How/Getty Images) 2023 team: San Francisco 49ers Age: 25 2023 avg. salary: $8,640,900 Market Value: 1 year — $13,010,600; avg salary — $13,010,600
- (Junfu Han/USA TODAY NETWORK) 2023 team: Atlanta Falcons Age: 25 2023 avg. salary: $8,382,136 Market Value: 4 years — $59,058,112; avg salary — $14,764,528
- (Jamie Squire/Getty Images) 2023 team: Kansas City Chiefs Age: 30 2023 avg. salary: $20,000,000 Market Value: 3 years — $85,450,884; avg salary — $28,483,628
- (Nathan Ray Seebeck/USA TODAY Sports) 2023 team: Indianapolis Colts Age: 27 2023 avg. salary: $2,153,211 Market Value: 4 years — $90,867,748; avg salary — $22,716,937
