Now that the first major wave of free agency is in the books and most of the expected salary-cap casualties have had their situations resolved, it’s time to update where the finances for all 32 teams stand.
The good news is that everyone is currently cap-compliant, though there will likely be more moves coming as some clubs will need to free up space to be able to sign their draft picks and any remaining free agents.
Here’s what the cap situation looks like for every team entering the second week of free agency, ranked from most money available to least:
Salary cap figures via OvertheCap.com
Justin Simmons, Chase Young, Jadeveon Clowney, Mike Williams, Kevin Zeitler and Odell Beckham Jr. are among the notable free agents still available.
The salary cap for the 2024 season is $255.4 million, an increase of $30.6 million from the previous year. It’s the largest single-season increase since the cap system was implemented in 1994.
When the league finalized the number for next season, the top three teams in cap space were the Washington Commanders ($87.05 million), the New England Patriots ($82.9 million), and the Chicago Bears ($80.4 million).
Chicago’s aggressive offseason has dropped it down to eighth in available cap space, though it still has more than $30 million to play with. The Bears’ biggest moves have been signing cornerback Jaylon Johnson to a four-year, $76 million deal and acquiring Keenan Allen from the Los Angeles Chargers for a 2024 fourth-round draft pick.
Allen revealed during his introductory press conference with the Bears that the trade came about after he rejected the Chargers’ request for a pay cut. Chicago was happy to take on his $23.1 million cap hit to boost its receiver room presumably for a quarterback who will be selected with the No. 1 overall pick.
