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NFL teams and players got some unexpected good news on Friday. It was announced that the 2024 salary cap will be $255.4 million. Initial projections in December put the 2024 salary cap in the $240 million to $245 million range. The league’s press release said, “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 $30.6 million jump is 13.61% more than the 2023’s $224.8 million salary cap. The increase is a little less than in 2022 when the salary cap rose by 14.08% after a precipitous drop in 2021 because of the pandemic.
Every team benefits from such a dramatic increase. Here are five possible consequences of the higher-than-expected salary cap.
The Cowboys are caught between a rock and a hard place with quarterback Dak Prescott. This is Prescott’s contract year and he has leverage in contract negotiations despite a subpar performance in an early playoff exit against the Green Bay Packers as the NFC’s No. 2 seed.
Prescott’s $59.455 million is the NFL’s second highest 2024 salary cap figure behind Browns quarterback Deshaun Watson’s $63.977 million while the Cowboys are currently $8.38 million over the $255.4 million salary cap, according to NFLPA data. He has a no-trade clause in his contract. Prescott also has a provision preventing Dallas from designating him as a franchise or transition player in 2025 should he play out his contract.
A contract extension will almost certainly make Prescott the league’s highest-paid player. That distinction currently belongs to Bengals quarterback Joe Burrow. He received a five-year, $275 million extension, averaging $55 million per year, from the Cincinnati Bengals in early September as the start of the regular season was…
Source link : https://www.cbssports.com/nfl/news/agents-take-potential-impacts-of-the-higher-than-expected-2024-nfl-salary-cap/
Author : Joel Corry
Publish date : 2024-02-26 17:54:06
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