NFL’s 2024 salary cap jumped the highest ever to above $255M

The National Football League (NFL) announced the salary cap for the 2024 season will hit a record $255.4 million per team—a $30.6 million increase from last year and the largest the NFL has ever seen since salary cap inception in 1994.

The surge is attributed to the league finishing repayment of all deferred players from 2020 and media revenue following new broadcast deals signed in 2021.

The NFL’s salary cap increase provides teams with substantial additional funds for the upcoming offseason. It will benefit both free agents and teams aiming to maintain competitive rosters within tight cap constraints.

Additionally, the NFL disclosed tender prices for restricted free agents, including $6.8 million for first-round tender, $4.9 million for second-round tender, $3.1 million for original-round tender, and $3 million for right of first refusal tender.