The NFL introduced Friday its wage cap for the 2024 season will probably be $255.4 million.
The Patriots now maintain $82.9 million in cap room, second-most within the league, based on Over The Cap. The workforce can attain roughly $96 million in house if/when it releases veteran cornerback J.C. Jackson or restructures his contract, which is void of ensures.
The 2024 wage cap is greater than anticipated, leaping greater than $30 million from final season’s restrict. In a launch, the NFL defined the bounce by saying, “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 league additionally introduced every workforce will obtain an extra $74 million for participant advantages, together with Performance Based Pay and advantages for retired gamers.
Last month, new head coach Jerod Mayo mentioned the Patriots intends to spend in free company.
“We’re bringing in talent, 1,000 percent,” Mayo mentioned on WEEI. “(We) have a lot of cap space and cash. Ready to burn some cash!”
The Patriots have ranked among the many NFL’s least expensive groups by money spending over the previous few seasons and rank lifeless final over the ten years, per ESPN. Before including outdoors expertise, the entrance workplace should determine whether or not to retain high inside free brokers, together with security Kyle Dugger, offensive lineman Mike Onwenu, vast receiver Kendrick Bourne and tight finish Hunter Henry. Mayo will probably be working carefully with new de facto basic supervisor Eliot Wolf and executives Patrick Stewart, Matt Groh and Steve Cargile throughout that decision-making course of.
NFL free company will formally open at midday on Monday, March 11, the beginning of the league’s “legal tampering” interval. Free brokers can not signal new contracts till Wednesday, March 13, at 4 p.m., the official begin of the NFL’s new 12 months.
Source: www.bostonherald.com