Salary cap news:
The NFL announced that the 2024 Salary Cap will be $255.4M per club, with an additional $74M per club payment for player benefits, which includes Performance Based Pay and benefits for retired players. Total 2024 player costs will be $329.4M per club, or more…
— Ian Rapoport (@RapSheet) February 23, 2024
The official 2024 salary cap number is here — and it’s much bigger than expected.
The NFL announced on Friday that the salary cap is set at $255.4 million dollars, largely due to the repayment of advanced and deferred money from the COVID-19 pandemic during the 2020 season. This is a pleasant surprise for NFL teams around the league, as it’s a $30 million increase from 2023 and $13 million more than Over the Cap projected to be the salary cap heading into 2024.
This is of course nice for every NFL team, but it’s definitely a bit of a boon for the Tampa Bay Buccaneers. The Bucs have numerous free agents like wide receiver Mike Evans, quarterback Baker Mayfield, safety Antoine Winfield Jr. and linebacker Devin White, and this unexpected jump in salary cap could be the difference in keeping a player that might have departed under previous projections.
As it stands right now, Over the Cap projects the Bucs as now having $45,521,102 dollars in cap space, which could help in their quest to get some players back for 2024. This doesn’t account for incoming incentives for Mayfield and a pay bump for center Robert Hainsey, but money can (and likely will) be freed up with post-June 1 cuts to Russell Gage and Ryan Jensen.
