According to Tom Pelissero, the NFL has informed teams that the salary cap in 2023 will be set at $224.8 million.
That is just a slight miss on a lot of projections that had the cap as at least $225 million, with a slight possibility for $230 million.
Still, that marks a $16 million jump over last year’s number of $208.2 million, an indication of the strength of the NFL’s growing business.
In the last collective bargaining agreement over the past decade, the cap grew at a rate of about $10 million a season. This far outstrips that.
The cap was set at its ceiling of $208.2 million in 2022 as the NFL and the NFLPA continued to sift through the ramifications of the global COVID-19 pandemic that caused a significant drop in revenue.
The salary cap is collectively bargained between the NFL and NFLPA each year based on projected league revenues.
The league signed huge new media rights deals that along with future gambling revenue streams and a 17-game regular season are expected to dramatically accelerate the NFL salary cap, which already was growing by about $10 million per year before the pandemic.
We’ll have more on the NFL salary cap as the news is available.
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