On Friday, the NFL announced the 2024 NFL salary cap will increase to $255.4 million, a $30 million increase. Many speculated it would be more toward $242.5 million, which while a respectable increase, would leave the Baltimore Ravens with a few challenges as they hope to retain key free agents. Now, with the extra money, the Ravens see themselves with currently $16.63 million in available funds.
The change stands to benefit Baltimore as Ravens General Manager Eric DeCosta has 27 unrestricted and street free agents pending new contracts. With the increase, there’s a higher chance of retaining some of their stars.