NFL Sets 2024 Salary Cap At $255.4M, Up $30M Over Last Year

Jonathan Jones reports that the 2024 NFL salary cap is set to be a record-breaking $255.4 million. 

Tom Pelissero notes that the cap includes an additional $74 million per club payment for player benefits, which includes Performance-Based Pay and benefits for retired players.

The $30 million jump this year is due to the full repayment of all amounts advanced by teams and deferred during the pandemic along with the increase in media revenue. 

Recent reports mentioned that the cap could be higher than expected and come close to $250 million, but it turns out the real number was even higher than that. 

This is great news for several teams who still have work to do to get under the salary cap before free agency next month. 

The revenue loss from the pandemic is now a thing of the past, as the cap grew $16 million from 2022 to 2023 and seems on pace to grow by at least that much in 2024. 

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.