When Super Bowl LVII concludes, the attention of the NFL world will quickly turn to focusing on free agency (March 13) and the NFL Draft (April 27) ahead of the 2023 season. And the league made a change on Monday that will have a big impact on the offseason.
As first reported by NFL Network’s Tom Pelissero and Ian Rapoport, the NFL told teams on Monday that the salary cap will increase to $224.8 million per organization for the 2023 season.
As Pelissero tweets, the salary cap was at $208.2 million in 2022, $182.5 million in 2021 (a COVID-related adjustment), $198.2 million in 2020, and $188.2 million in 2019. So, the 2023 salary cap is an increase of $16.6 million from 2022.
The NFL informed teams today that the 2023 salary cap will be a record $224.8 million per club, sources tell me and @RapSheet.
That’s up from $208.2 million in 2022, $182.5M in 2021 (COVID adjustment), 198.2M in 2020 and $188.2M in 2019.
— Tom Pelissero (@TomPelissero) January 30, 2023
In a follow-up tweet, Pelissero writes, “The CBA is a revenue-sharing deal, and new media contracts, 17th game, etc., are all contributing to a rise that should continue. The league anticipates it will will provide more info concerning total projected costs, including player benefits, in early March.”
The CBA is a revenue-sharing deal, and new media contracts, 17th game, etc., are all contributing to a rise that should continue.
The league anticipates it will will provide more info concerning total projected costs, including player benefits, in early March. https://t.co/kW7SxD2Cm0
— Tom Pelissero (@TomPelissero) January 30, 2023
Additionally, with the salary cap in place, so are the new nonexclusive franchise and transition tag dollar amounts.
Quarterbacks that are franchise-tagged — with the New York Giants’ Daniel Jones being a candidate — will be owed $32,416,000 million.
With the 2023 salary cap set at $224.8 million per club, the nonexclusive franchise and transition tag numbers are now set as well. pic.twitter.com/QRcOpLXbQZ
— Tom Pelissero (@TomPelissero) January 30, 2023
This is a pretty sizable boost for dollars that will be spent in the offseason, but it’s something organizations are prepared for (and it’s something that *should* constantly be happening with the league revenues). The big winners in it are the players, who could see more dollars in their contracts.
The Chicago Bears — who also have the No. 1 overall pick in the 2023 NFL Draft — will have far and away the most cap space to work with.
Here’s a look at how NFL fans are reacting to the 2023 salary cap and tag adjustments:
NFL teams were informed that the 2023 salary cap will be $224.8M, as @TomPelissero & @RapSheet reported.
The Bears are projected to have close to $100M in salary cap space, by far most in the NFL.
Others flush with cap include the Falcons, Giants and Bengals.
— Field Yates (@FieldYates) January 30, 2023
Finally got our 2023 salary cap number, just shy of $225M which Over The Cap was using as a placeholder, so very small corrections to be made
Major increase of almost 8% https://t.co/kvA9vmDDoa
— Brad Spielberger, Esq. (@SpielbergerBrad) January 30, 2023
The #Bears could hypothetically sign 3 top free agents this offseason and STILL have the most cap space in the NFL afterwards.
Crazy just how much they have in financial resources this year. Ryan Poles literally has no other choice than to spend a lot of money.
— Jacob Infante (@jacobinfante24) January 30, 2023
With the league officially announcing the 2023 salary cap at $224.8M, we have a much better idea where the #Bears stand.
While it’s not the lofty $115-$120M some were hoping for, they are sitting right around $92M before cuts, etc.
— Aaron Leming (@AaronLemingNFL) January 30, 2023
With 2023 salary cap set at $224.8 million, Cowboys projected to be about $7.4 million over. Can easily get under the cap with restructures of Dak Prescott, Michael Gallup, Zack Martin, DeMarcus Lawrence that could not them $45 million in room.
— Todd Archer (@toddarcher) January 30, 2023
With teams being told the salary cap will be $224.8M, the franchise tag numbers are:
QBs: $32.416M
RBs: $10.091MRelevant for Giants with both Daniel Jones and Saquon Barkley set to become free agents.
— Jordan Raanan (@JordanRaanan) January 30, 2023
The NFL salary cap for a 53-man roster will be more than $150 million less than the Mets' 2023 payroll — not counting extensive luxury taxes the Mets also will pay, likely pushing their total to approximately $500M. https://t.co/b0dRpNSAJK
— David O'Brien (@DOBrienATL) January 30, 2023
