2024 NFL Cap Space, By Team

The NFL provided clarity to its teams on Friday by setting the salary cap ceiling ($255.4MM). Franchise tag figures have been locked in as well, and clubs can now proceed with their offseason planning knowing exactly where they stand with respect to financial flexibility. Courtesy of Over the Cap, here is the current landscape in terms of salary cap space:

1. Washington Commanders: $79.61MM
2. Tennessee Titans: $78.66MM
3. Chicago Bears: $78.34MM
4. New England Patriots: $77.96MM
5. Indianapolis Colts: $72.34MM
6. Houston Texans: $67.58MM
7. Detroit Lions: $57.61MM
8. Arizona Cardinals: $51.1MM
9. Cincinnati Bengals: $50.67MM
10. Tampa Bay Buccaneers: $43.68MM
11. Los Angles Rams: $43.11MM
12. Las Vegas Raiders: $42.94MM
13. Minnesota Vikings: $35.81MM
14. Carolina Panthers: $34.57MM
15. Atlanta Falcons: $33MM
16. New York Giants: $30.8MM
17. Philadelphia Eagles: $27.35MM
18. Jacksonville Jaguars: $24.68MM
19. Kansas City Chiefs: $18.19MM
20. Baltimore Ravens: $16.63MM
21. Seattle Seahawks: $12.97MM
22. New York Jets: $12.76MM
23. Pittsburgh Steelers: $9MM
24. Green Bay Packers: $2.3MM
25. San Francisco 49ers: $5.07MM over the cap
26. Cleveland Browns: $7.76MM over
27. Dallas Cowboys: $9.86MM over
28. Denver Broncos: $16.81MM over
29. Los Angeles Chargers: $25.61MM over
30. Miami Dolphins: $27.92MM over
31. New Orleans Saints: $42.11MM over
32. Buffalo Bills: $43.82MM over

All teams must be cap compliant by the start of the new league year, but it will of course be more than just those currently over the limit which will make cost-shedding moves in the near future. Cuts, restructures and extensions are available as tools to carve out space in advance of free agency. Several have already taken place around the league.

That includes the Dolphins’ release of defensive end Emmanuel Ogbah and the planned cut of Xavien Howard. The latter cannot be designated a post-June 1 release until free agency begins but once it happens, Miami will move much closer to cap compliance. The Saints have moved considerable commitments into the future via restructures (as usual), but more transactions on that front will be required even with the cap seeing an historic single-season jump.

The roughly $30MM spike from 2023 will provide unforeseen spending power for teams already set to lead the pack in cap space while also making the task of those at the bottom of the list easier. Spending more on backloaded contracts this offseason at the expense of future space obviously carries risk, however. Still, the news of a higher-than-expected ceiling will add further intrigue to each team’s financial planning.

With Dak Prescott and Deshaun Watson each set to carry record-breaking cap hits for 2024, the Cowboys and Browns will be among the teams most in need of working out a deal to lower those figures. In Dallas’ case in particular, an extension would provide immediate breathing room in addition to clarity on his future beyond the coming season. For Cleveland, Watson’s fully-guaranteed deal has already been restructured once and will need to be again to avoid consecutive years of a $64MM cap charge over its remaining term.

If the Commanders and Patriots add a quarterback with the second and third picks in this year’s draft, each team currently in the top six in space will enjoy the benefits of having a signal-caller on their rookie contracts. That would allow for an aggressive approach to free agency, although the Chiefs’ success after Patrick Mahomes signed (and re-worked) his monster extension has proven it is possible to win Super Bowl titles with a substantial QB investment on the books.