By Alfredo Echenique
23 Feb 2024, 20:35 PM EST
A couple of weeks ago the Kansas City Chiefs won the Super Bowl LVIII championship against the San Francisco 49ers. For now we will have to wait until September 5, the date on which the new NFL season will begin.
Meanwhile, the league continues to take measures to raise its level and this Friday announced to the 32 franchises the new increase in salary caps for next season. With the aim of encouraging competitiveness in the championship.
These new caps contemplate an increase of 13.6%, which brings the caps in figures from $224.8 million dollars per franchise to $255.4 million dollars. This new salary cap is a record for the NFL, which just five years ago had a salary cap of $177.2 million per team.
NFL free agency benefited
This announcement on the increase in salary caps could have a positive impact on the free agent market. Well, several franchises had been projecting an increase in the salary cap even less than that announced by the NFL to acquire players in free agency.
One of the factors of this large increase by the NFL in salary caps is motivated by the reimbursement of income that was deferred in 2020 as part of the agreement between the players and the league to keep the league operating during the Covid pandemic. 19.
On the other hand, it is also directly related to the good income that the league received in 2022 and 2023. They also commented in the statement that there was an “extraordinary increase in media income.”
What is the salary cap in the NFL?
In 1994 the NFL decided to implement a structure called the “salary cap.” This measure is nothing more than a ceiling previously agreed upon between the league and the NFLPA that the 32 franchises cannot exceed.
That is, all franchises will have the same salary limit to spend on their payrolls. In this way, the NFL guarantees greater competitiveness and parity for all franchises in the championship.
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