The NFL has officially set the 2017 salary cap at $167 million per team on Wednesday, according to Jason Cole.
Last we heard, Mike Florio of Pro Football Talk reported that the 2017 cap was expected to be between $166 million to $169 million per team, so this is right in line with Florio’s report.
The general expectation was that this year’s salary cap was likely to be $168 million but it looks like it came in just under.
The salary cap has been on the rise for the past few seasons after remaining flat for the first few years of the current collective bargaining agreement. Since then, cap has been increasing by $10 million annually and a total of 37.6 percent in just the past five years.
This will be the fourth consecutive increase of at least $10 million.
NFL teams are required to spend 89 percent of their cap and cash spending has to 95 percent of the salary cap limit over a period of four years or the difference will go to the union who distributes the money between the players.
We’ll have cap space figures posted for each team later on this week as they prepare to head into free agency.