NFL sets 2024 season salary cap at $255.4 million

Feb 23, 2024, 11:23 AM | Updated: 11:25 am

A detailed view of the NFL logo on a football prior to the game between the Minnesota Vikings and t...

CHICAGO, ILLINOIS - OCTOBER 15: A detailed view of the NFL logo on a football prior to the game between the Minnesota Vikings and the Chicago Bears at Soldier Field on October 15, 2023 in Chicago, Illinois. (Photo by Quinn Harris/Getty Images)

(Photo by Quinn Harris/Getty Images)

The NFL announced the 2024 salary cap Friday morning.

According to a press release from the league, each team will have $255.4 million, with an additional $74 million per club payment for player benefits, which includes Performance-Based Pay and benefits for retired players.

“The unprecedented $30 million increase per club in this year’s Salary Cap is the result of the full repayment of all amounts advanced by the clubs and deferred by the players during the Covid pandemic as well as an extraordinary increase in media revenue for the 2024 season,” the league added in its press release.

San Francisco will have its work cut out for them this offseason. With the official NFL salary cap number released, we now know the 49ers are projected to only have around $500k in available cap space at the moment.

With the NFL salary cap squared away, teams can now shift their focus to the combine, which kicks off Monday, Feb. 26, at Lucas Oil Stadium in Indianapolis. The combine runs until Monday, March 4.

  • Teams will get a look at defensive linemen and linebackers first on Thursday, Feb. 29
  • Next up is defensive backs and tight ends on Friday, March 1
  • Quarterbacks, running backs and wide receivers showcase their skills on Saturday, March 2
  • The event culminates with offensive linemen on Sunday, March 3

Following the NFL Combine, the new league year officially begins at 1 p.m. PST on Wednesday, March 13. There is a legal tampering period from 9 a.m. PST Monday to 1 p.m. PST Wednesday, where teams will be able to contact and negotiate deals with players. But, teams are not permitted to start signing free agents until after the new league year officially begins.

The month ends with the annual league meeting from March 24 – 27 in Orlando.

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