Mike Florio of Pro Football Talk reports that multiple sources have indicated to him the 2024 salary cap will be around $242-$243 million, with another source telling Florio the number will be higher.
Florio also mentions a different source said the cap could approach $250 million, which is significantly higher than most current projections.
He adds the final numbers will likely come out following negotiations during the NFL Combine.
The salary cap is collectively bargained between the NFL and NFLPA each year based on projected league revenues.
Ian Rapoport and Tom Pelissero had previously reported the NFL salary cap would be north of $240 million for the 2024 season, with one source telling the pair: “Business is booming, and everyone is finally out of the COVID debt.”
Per Over The Cap, multiple teams have been using $242 million as a projection to work with for now. The cap was set at $224.8 million in 2023.
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.
We’ll have more on the NFL salary cap as the news is available.
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