NFL salary cap will reportedly increase to $224.8 million in 2023
The NFL salary cap rose to $224.8 million for the 2023 season, according to NFL Network's Tom Pelissero and Ian Rapoport, which would break the league record set in 2022.
That massive $16.6 million increase is the biggest jump in one year since 2006. This doesn't include the 2022 season, which saw a $25.7 million increase but followed the first and only salary cap decrease thanks to the COVID-19 pandemic. This is also the ninth time since 2006 that the cap ballooned by at least $10 million.
The NFL also made adjustments to franchise tags for each position for the 2023 season. Here they are, per MMQB:
Billion-dollar sponsorship and broadcast deals likely played a major role in this dramatic rise. The league signed huge media rights contracts with CBS, NBC, FOX, ESPN and Amazon in 2021 that will take effect in 2023 and will net the league upwards of $110 billion over 11 years. The NFL also signed a new deal with Google to bring "Sunday Ticket" to YouTube for $2 billion a year.
This will undoubtedly give teams more breathing room during the offseason. The Chicago Bears are estimated to have $91.8 million in cap space this offseason, according to Over The Cap. Even with the inflated number, though, 14 teams will be over the cap with serious financial decisions coming down the line.