When the NFL announced on Friday that the 2024 salary cap will be $255.4 million, fans and the media were surprised, after widespread expectations that it would be around $243 million. Giants General Manager Joe Schoen said this morning on PFT Live that front offices were surprised as well.
“We got a little curveball on Friday afternoon,” Schoen said. “We were around the 243 range, is kind of where we were estimating, so when I opened the email I was like, ‘Oh, my gosh.’ Now we have a little more flexibility. We were in good shape as it was, but now we have more options on the table, not only for our players, but for players outside our organization who may come into the mix as well.”
The cap is based on the league’s revenues, so the higher-than-expected cap is a good sign for the league’s financial health. And it’s also good news for NFL players that the 32 teams can cumulatively spend nearly $400 million more on players in 2024 than had previously been expected.
“I think all 32 teams are obviously happy with where it is,” Schoen said. “Across the board of our free agents it’s helpful.”
