The NFL announced they’ve set the 2024 salary cap at $255.4 million per team, which is up a whopping $30.6 million from the 2023 season.
That increase stems as a result of the full repayment of all amounts advanced by clubs and deferred by the players during the COVID pandemic, per NFL Network’s Tom Pelissero, as well as an increase in media revenue for 2024.
There will be an additional $74 million per club for player benefits, including Performance Based Pay and benefits for retired players.
So how does this increased salary cap impact the Bears in 2024?
While OverTheCap projected Chicago to have around $67 million, third most in the league, that amount increased by more than $13 million with the finalized salary cap. The Bears officially have $80.39 million in salary cap space for the 2024 season.
General manager Ryan Poles has plenty of resources at his disposal to make this a franchise-altering offseason for Chicago. Not only do the Bears have two top-10 picks, including the No. 1 selection, but they have the third most salary cap space in the league at $80.39 million.
There are several positions of need for Poles to address this offseason, including edge rusher, center, safety, wide receiver and tight end. With plenty of big names set to hit the open market in free agency, Chicago has the resources to land some impact veterans, if they choose.
Follow The Bears Wire Podcast:
Apple Podcasts | Spotify | Google Podcasts
