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#pounditWednesday, April 17, 2024

NFL salary cap takes enormous jump for 2024

Roger Goodell at a press conference

Apr 29, 2021; Cleveland, Ohio, USA; NFL commissioner Roger Goodell announces the final pick of the 2021 NFL Draft for the Tampa Bay Buccaneers at First Energy Stadium. Mandatory Credit: Kirby Lee-USA TODAY Sports

The NFL has announced the salary cap number for the 2024 season, and it is even higher than most expected it to be.

The cap figure came out to be $255.4 million for 2024, which is easily a record. That is a jump from $224.8 million last year, and marks the largest year-to-year increase since the cap was introduced 30 years ago.

This also means that figures for franchise and transition tags will be higher than expected. Fifth-year options on rookie contracts will jump to above $20 million at most premium positions, with the Jacksonville Jaguars now facing a $25 million decision on Trevor Lawrence.

The cap is based on league revenue figures, and it was expected to increase. This figure, however, is much higher than even the most aggressive projections. The expectation was that the cap would come in somewhere between $240 and $250 million. Even the latter figure was an outlier among projections, but even it turned out to be too low.

One thing we can safely assume is that quarterback salaries are about to go up again. That is good news for at least one player who might be in line for a new deal this offseason.

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