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FORMULA 1
- PVF
- OLYMPICS
2024 NFL Official League Financials
The NFL has now set its financial thresholds for the upcoming 2024 season, including a surprisingly high $255.4M league salary cap. We'll take a look at a few updated figures from the top down, including spending floor info, minimum salaries, the veteran minimum cap benefit, restricted free agent tenders, & official franchise & transition tag values.
NFL League Salary Cap
The 2024 salary cap rose to historic levels this season, both as an overall number of course and also in terms of the amount of increase over last season's figure. The $30.6M increase shattered the recent leader in the clubhouse (2022: $25.7M), due in large part to the fact that all of the "borrowed" money for COVID-strapped seasons have now been accounted for. Also, there seems to be a fairly strong level of general interest in the league...
Year | Cap Maximum | Cap $ +/- | Cap % Change |
---|---|---|---|
2024 | $255,400,000 | $30,600,000 | 13.61% |
2023 | $224,800,000 | $16,600,000 | 7.97% |
2022 | $208,200,000 | $25,700,000 | 14.08% |
2021 | $182,500,000 | $-15,700,000 | -7.92% |
2020 | $198,200,000 | $10,000,000 | 5.31% |
2019 | $188,200,000 | $11,000,000 | 6.21% |
2018 | $177,200,000 | $10,200,000 | 6.11% |
2017 | $167,000,000 | $11,730,000 | 7.55% |
2016 | $155,270,000 | $11,990,000 | 8.37% |
2015 | $143,280,000 | $10,280,000 | 7.73% |
Related: Full NFL Salary Cap Listing
NFL Spending Floor
While the NFL doesn't have an annual spending minimum, the latest CBA continued to institute a 3-year threshold requirement. NFL teams will need to cash spend 90% of the next 3 league salary cap maximums combined. For instance, if the 2024, 2025, & 2026 league salary caps come in at $255M, $265M, & $275M ($795M total), each team will be required to spend $715,500,000 minimum across that span.
2024 Minimum Salaries
NFL minimum salaries got their usual $45,000 raise this year.
YEARS OF SERVICE | 2024 |
---|---|
0 | $795,000 |
1 | $915,000 |
2 | $985,000 |
3 | $1,055,000 |
4 | $1,125,000 |
5 | $1,125,000 |
6 | $1,125,000 |
7 | $1,210,000 |
8 | $1,210,000 |
9 | $1,210,000 |
10+ | $1,210,000 |
Veteran Minimum Benefit
Players with 4 or more credited seasons who sign a 1 year contract this offseason can qualify for a salary cap benefit. For instance, Player A has 5 years of service, and agrees to a minimum contract with a team this March. The player will sign a contract with a base salary of $1,125,000, however the salary cap charge will drop down to $985,000. Additionally, veteran minimum contracts can include up to $167,500 of bonus money (signing, roster, per game active, workout), and still qualify for the cap reduction. For example, Player A is given a $25,000 signing bonus and a $25,000 bonus if he makes the Week 1 roster in addition to his minimum salary. This represents a $1,175,000 total value contract in 2024. But for salary cap purposes, the charge is calculated as $985,000 + $25,000 + $25,000, or $1,035,000.
Related: Complete Minimum Salary Table
2024 Restricted Free Agent Tenders
Right of First Refusal: $2,985,000
The team will have a right to match any offer sheet, but there will be no draft compensation rewarded should the player sign an offer sheet and leave.
Original Round Tender: $3,116,000
The team will have a right to match any offer sheet, but will be rewarded a draft pick in the same round that the player was originally drafted should the player sign an offer sheet and leave.
2nd Round Tender: $4,890,000
The team will have a right to match any offer sheet, but will be rewarded a 2nd round pick should the player sign an offer sheet and leave.
1st Round Tender: $6,822,000
The team will have a right to match any offer sheet, but will be rewarded a 1st round pick should the player sign an offer sheet and leave.
Related: 2024 Restricted Free Agents
2024 Franchise & Transition Tag Values
Position | Franchise Tag |
Transition Tag |
---|---|---|
Quarterback | $38.3M | $34.3M |
Running Back | $11.9M | $9.7M |
Wide Receiver | $21.8M | $19.7M |
Tight End | $12.6M | $10.8M |
Offensive Lineman | $20.9M | $19M |
Defensive Tackle | $22.1M | $18.4M |
Defensive End | $21.3M | $19M |
Linebacker | $24M | $19.9M |
Cornerback | $19.8M | $17.2M |
Safety | $17.1M | $13.8M |
Kicker/Punter | $5.9M | $5.4M |
Related: NFL Franchise Tag Historicals
CATEGORIES
- NBA 97
- NFL 69
- GOLF 51
- NWSL 40
- MLB 23
- NHL 1
AUTHORS
- Michael Ginnitti NFL, MLB
- Keith Smith NBA
- Scott Allen Contributor
- Taylor Vincent NWSL
5 Looming NFL Extension Candidates
With the NFL season now a quarter through, Spotrac has identified 5 players who are trending toward major rookie extensions after the 2024 season.
Yu Wins Sanderson Farms Championship
Kevin Yu wins the Sanderson Farms Championship and $1.37 million.
5 Early NFL Trade Deadline Candidates
With the November 5th NFL trade deadline just a month away, the hot stoves are already burning strong with potential candidates. We’ll dive into five players being discussed early on, including their contract statuses now and in the future.
NWSL Expansion History
A look at the NWSL's expansion history as we approach the potential announcement of Team 16 to the league.
Postseason Payrolls, Top Paid Outlooks & Top Free Agent Valuations
Spotrac's first dive into the MLB offseason details the finances for each playoff team, a look at how the top-paid players & largest offseason signings fared in 2024, & a few notable valuations for 2025.
TRENDING PLAYERS
- 1 Kareem Hunt (RB, KC)
- 2 Deshaun Watson (QB, CLE)
- 3 Davante Adams (WR, LV)
- 4 Bobby Witt Jr. (SS, KC)
- 5 Chase Young (DE, NO)
TRENDING PAGES
- 1 NFL Free Agents
- 2 MLB Cap Tracker
- 3 MLB Free Agents
- 4 NFL Transactions
- 5 NFL Contracts