Salary cap expected to exceed $240 million for 2024 season

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The NFL Management Council informed clubs this past week that it won't provide a projection for the 2024 salary cap at the Winter League Meeting on Tuesday and Wednesday, and the cap is unlikely to be set until after New Year's Day, according to sources.

But people familiar with the matter say surging revenue and diminishing aftershocks of the 2020 pandemic are on track to yield significant cap growth over the next several years, with a 2024 cap likely to land north of $240 million and additional revenue rolling into future caps.

As one source put it: "Business is booming, and everyone is finally out of the COVID debt."

Sources say revenue projections could support a 2024 salary cap well above the $240 million range -- another enormous increase from a record $224.8 million per club this year, up from $208.2 million in 2022.

However, the cap has been set in recent years via settlement between the NFL and NFL Players Association, and the union historically has wanted to smooth out cap growth rather than having a one-year spike so that one class of free-agent players doesn't disproportionately benefit or suffer.

The NFL Management Council's memo sent on Thursday indicated that could be the case again.

"The Management Council and NFLPA are in the process of addressing open matters that will impact the 2024 Salary Cap and therefore will not be able to project a range for the 2024 Salary Cap until those issues are resolved," the memo said. "The 2024 Salary Cap will be announced by memorandum, as has been done over the past two years, as soon as we are able to reach agreement but we do not anticipate that occurring until after the New