The NFL announced Friday that its salary cap for the 2024 season will be a record $255.4 million per team -- a stunning 13.6 percent increase over last year's cap and a sign that the league is entering a new phase of exploding revenue.
This year's salary cap will be $30.6 million more per team than last year's $224.8 million -- by far the largest jump it has taken from one year to the next since the salary cap was introduced in 1994.
The increase could have a significant impact on the free-agent market set to open next month, as most teams had been using cap projections in the range of between $240 million and $245 million when budgeting for the upcoming season.