The NFL’s wage cap for the 2024 season is greater than anticipated.
Projections for the cap increase ranged from $243 million to roughly $250 million. The ultimate quantity? A whopping $255.4 million, a 13.6 p.c enhance from 2023, and excellent news for groups just like the Seattle Seahawks, who’re hastily in compliance with the 2024 cap.
Wage cap information:
The NFL introduced that the 2024 Wage Cap will probably be $255.4M per membership, with an extra $74M per membership fee for participant advantages, which incorporates Efficiency Based mostly Pay and advantages for retired gamers. Whole 2024 participant prices will probably be $329.4M per membership, or extra…
— Ian Rapoport (@RapSheet) February 23, 2024
“The unprecedented $30 million enhance per membership on this yr’s Wage Cap is the results of the complete compensation of all quantities superior by the golf equipment and deferred by the gamers throughout the Covid pandemic in addition to a rare enhance in media income for the 2024 season,” the NFL stated.
Between the wage cap coming in greater than projections and the restructuring of Geno Smith’s contract on Thursday, the Seahawks now sit with just below $13M of cap area in line with OverTheCap.com.
Earlier than speeding out to spend all that area, although, followers ought to remember the fact that John Schneider and Mike Macdonald nonetheless have to fill out the roster to a full complement of 51 gamers throughout the offseason, whereas additionally retaining area put aside to tender unique rights free brokers and restricted free brokers.
Principally, Seattle has slightly extra respiratory room to work with than had been anticipated, however a lot of that room will probably be used up earlier than free company even arrives in a few weeks.
