While a number of big-name veterans remain unsigned, 2024 free agency is effectively over. In addition to settling on 53-man rosters ahead of the 2024 campaign, NFL front offices will also use the next few months to sign their extension-eligible players to long-term pacts.
These extensions are obviously intended to keep players locked to their respective teams for the foreseeable future. However, these extensions can also help front offices clean their books as they prepare for future offseasons. With that in mind, here’s a look at where teams currently stand in regards to 2025 cap space (h/t to OverTheCap.com):
- New England Patriots $91.93MM
- Arizona Cardinals $77.42MM
- Washington Commanders $69.51MM
- Pittsburgh Steelers $67.98MM
- Dallas Cowboys $64.82MM
- Chicago Bears $58.81MM
- New York Jets $58.28MM
- Minnesota Vikings $54.52MM
- Green Bay Packers $47.45MM
- Detroit Lions $43.68MM
- Los Angeles Chargers $42.92MM
- Cincinnati Bengals $37.87MM
- Denver Broncos $34.35MM
- Los Angeles Rams $34.22MM
- Tennessee Titans $27.51MM
- Jacksonville Jaguars $27.36MM
- Tampa Bay Buccaneers $25.74MM
- Las Vegas Raiders $22.53MM
- New York Giants $17.15MM
- Carolina Panthers $16.42MM
- Indianapolis Colts $14.23MM
- Kansas City Chiefs $11.67MM
- Philadelphia Eagles $6.40MM
- Atlanta Falcons $130K
- Baltimore Ravens -$3.58MM
- Buffalo Bills -$3.71MM
- Houston Texans -$5.68MM
- Miami Dolphins -$9.36MM
- Seattle Seahawks -$20.48MM
- San Francisco 49ers -$38.91MM
- Cleveland Browns -$42.85MM
- New Orleans Saints -$88.15MM
The numbers above reflect “effective cap space,” meaning they account for the top-51 players and projected rookie classes. This list is based on a projected salary cap of $260MM.
It’s not a huge surprise to see the Patriots atop the list, as the organization is currently sitting with the most amount of cap room heading into the 2024 campaign. With hopeful franchise QB Drake Maye locked into an affordable rookie contract, the organization will surely be looking to capitalize on their cap flexibility. The Patriots were traditionally fiscally responsible under Bill Belichick‘s leadership, so it will be interesting to see how the organization proceeds with Jerod Mayo and Eliot Wolf now running the show. The Patriots aren’t far removed from a 2021 offseason where they spent a then-record $160MM in guaranteed money on free agents, so owner Robert Kraft certainly isn’t shy about opening the checkbook when the opportunity arises.
Some of these teams will surely see their totals dry up as they sign players to extensions. This is especially relevant for the Cowboys, who are eyeing lucrative extensions for Dak Prescott and CeeDee Lamb. Most of the team’s upcoming moves will likely be made with the Dak/CeeDee extensions in mind, and once those deals come to fruition, there’s a good chance the Cowboys end up falling towards the bottom of this list.
On the other side of the list, the Saints will be eyeing some significant cost-cutting moves heading into the 2025 offseason. The team could free up some significant space via extensions with Alvin Kamara and Taysom Hill, as the duo is currently slated to count for a combined $44.7MM against the cap in 2025. Marshon Lattimore‘s $31.4MM cap hit is another notable roadblock that will need to be resolved, although the organization has less flexibility when it comes to Derek Carr‘s impending 2025 cap hit of $51.4MM.
Interesting that 4 of the top 10 spots consist of the teams in the NFC Central.
This man is a long time footballer calling it the central
Jacksson got so caught-up in his puns, he probably forgot it’s called the NFC North division, but I digress
Makes sense. 2 of those teams have QBs on a rookie contract, while Jordan Love has yet to sign an extension.
And Detroit’s a fairly young team, so outside of a few extensions, they haven’t invested too heavily in their core
Will the Saints ever get out of the cap hole? They are always fighting to stay under and this is with the cap being substantially increased!
They will stop paying Drew Brees in 2055!
Now that was funny.
I heard they just signed him to another extension. Runs through 2075 now.
The NFC North has a lot of room and figures to be rather aggressive competitively in the period of the next few years…it will be interesting to see what those teams do with that space. Who gets extended? Who gets acquired? There will be a lot of decisions made in that time.
Minnesota will need to use free agency to make up for a ton of missing draft picks. Green Bay will need to pay Love, but they’ll still have plenty of freedom given the sheer number of rookie contract starters and rotational players they have. I believe their whole receiving and tight end groups combine to make like $11 million this year. It’s insane.
MIN has a 1st rounder, two 5th’s and a 7th next year in the draft. They could trade out of the 1st round and recoup some draft picks. For example both the Bills and Jags have plenty of draft picks they could offer if they wanted to obtain the Vikings 1st pick. (Obviously way to soon to be talking 2025 draft but it came up lol)
Too soon for sure, but that also makes glaring sense.
Cowboys 5th? In reading the articles on here about the salary crunch the team was facing with upcoming extensions, I was under the impression Jerry Jones might be forced to launch a GO FUND ME campaign.
The Cowboys are 5th without Dak numbers and Lamb. Both are UFA and they want an extension now. Those two could easily eat up what they have in cap space money.