The NFL’s wage cap for the 2024 season is increased 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 % enhance from 2023, and excellent news for groups just like the Seattle Seahawks, who’re unexpectedly in compliance with the 2024 cap.
Wage cap information:
The NFL introduced that the 2024 Wage Cap might 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. Complete 2024 participant prices might 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 total reimbursement of all quantities superior by the golf equipment and deferred by the gamers throughout the Covid pandemic in addition to a unprecedented enhance in media income for the 2024 season,” the NFL stated.
Between the wage cap coming in increased than projections and the restructuring of Geno Smith’s contract on Thursday, the Seahawks now sit with slightly below $13M of cap house in line with OverTheCap.com.
Earlier than dashing out to spend all that house, although, followers ought to remember 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 house put aside to tender unique rights free brokers and restricted free brokers.
Principally, Seattle has a bit extra respiratory room to work with than had been anticipated, however a lot of that room might be used up earlier than free company even arrives in a few weeks.
