On Friday afternoon, the NFL announced that the salary cap for the 2024 season will be $255.4 million per team. If that sounds like a lot of money, it is. Most estimates figured that number would be around $242-5 million, with only ProFootballTalk noting that it could be up to $250 million. This actual figure is higher than any estimates given this offseason, and it’s more than $30 million more than last year’s $224.8 million cap. The NFL explained the unexpected increase in an official memo.
“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.