The boost in the cap is significantly more than projections most were working off of (in the $242 million range). Clubs marred in salary cap trouble got significant relief, while those above the threshold have even more money to spend.
Teams have until 4 p.m. ET on March 13, when the new league year begins, to get under the salary cap before the free agency period officially opens.
Along with the announcement of the 2024 salary cap, the league also locked in franchise and transition tag numbers, sending out a memo to teams on Friday, NFL Network Insider Tom Pelissero reported.