The NFL announced that the 2024 salary cap will be set at $255.4 million, marking a $30.6 million increase from the 2023 season's cap figure.
"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," NFL Communications stated via a press release. "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."
OverTheCap.com already shows the San Francisco 49ers with $834,165 of cap space under the new $255.4 million figure. The number could change based on adjustments and carryover from the 2023 salary cap.
The salary cap increase will aid the team in extending contracts, retaining players, and potentially acquiring new talent. The 49ers are coming off a Super Bowl appearance and hope to keep their group of core players together for another run at a championship.
Wide receiver Brandon Aiyuk is eligible for a contract extension. He is entering his fifth NFL season and remains under contract through 2024, thanks to the team's fifth-year option on the talented wideout. Aiyuk led the 49ers with 1,342 receiving yards and is set to earn a guaranteed $14.124 million for the upcoming season.
Below is a 10-year breakdown of the NFL salary cap, including 2024's figure. The only decrease during this span occurred from 2020 to 2021 due to the COVID-19 pandemic.
- 2015: $143.28 million
- 2016: $155.27 million
- 2017: $167.0 million
- 2018: $177.2 million
- 2019: $188.2 million
- 2020: $198.2 million
- 2021: $182.5 million
- 2022: $208.2 million
- 2023: $224.8 million
- 2024: $255.4 million
The new league year begins on March 13, marking the start of free agency.