As the 2023 NFL season enters its final stretch, the league’s robust off-field financial strength underscores its supremacy in U.S. professional sports.
Preliminary projections for the 2024 NFL salary cap suggest it will exceed $240 million, marking a substantial increase from this season’s $224.8 million allocated to each team for player contracts.
While the official setting of next year’s salary cap is expected in January, reports indicate NFL team owners anticipate a third consecutive year of significant growth as league revenues fully rebound from the pandemic.
The NFL’s salary cap experienced fluctuations due to COVID-induced disruptions in recent years:
- 2023: $224.8 million
- 2022: $208.2 million
- 2021: $182.5 million
- 2020: $198.2 million
- 2019: $188.2 million
The 2023 season witnessed a substantial revenue boost from the NFL’s new $110 billion media rights deals, contributing to another record year for the league when final figures are tallied.
In 2022, the NFL is estimated to have generated nearly $20 billion in revenue, edging the 32 team owners closer to Commissioner Roger Goodell’s longstanding target of achieving $25 billion in annual revenue.
As 2024 approaches, the NFL’s financial prowess is poised for continued expansion.
