The NFL announced today that the 2024 Salary Cap will be $255.4 million per club, with an additional $74 million per club payment for player benefits, which includes Performance Based Pay and benefits for retired players. Total 2024 player costs will be $329.4 million per club, or more than $10.5 billion league-wide.
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.
According to Spotrac.com, the Los Angeles Rams are now $52.3 million under the salary cap and the Los Angeles Chargers are now $20.8 million over the salary cap. The Rams will have plenty of money to spend on free agency in the offseason and the Chargers are not far off from getting under the salary cap. For example, cutting wide receiver Mike Williams would save $20 million and cutting defensive end Morgan Fox would save $3.5 million. Those two moves would get the Chargers under the cap. That is not to suggest that the Chargers should make those moves, that is to suggest that the salary cap situation for the Chargers is not as dire as it once seemed.
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