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.