NFL sets 2023 salary cap; tag figures … Pretty much as expected, the NFL reportedly informed teams around the league tat the salary cap for 2023 would rise to $224.8M. That’s a major 8% increase from last year’s figure of $208.2M. Teams have until 4 PM ET on March 15th to get under the salary cap before the free agency period officially opens. At this time, Chicago, which of course also has the #1 pick in the 2023 draft, has by far the most cap space in the league. Indeed, the Bears are reportedly almost $92M under the cap, while Atlanta ($56M), the NY Giants ($45M) and Cincinnati ($44M) are each over $40M to the good versus the cap. At the same time, though, 14 teams still have work to do as they over the cap headed by New Orleans and Tampa Bay which are a whopping $59M and $56M respectively over the cap. Here are the current salary cap figures for every team.
At the same time the NFL also confirmed the franchise and transition tag numbers for the upcoming year. Not surprising, the highest tag numbers are for QBs, who can be tagged for a cool $32.$M. Here are the franchise and transition tag numbers for 2023. For the record, the franchise tag allows a player to negotiate with other teams and sign an offer sheet, but if his current team doesn’t match, the new team gives up two first-round picks as compensation. The transition tag provides a player’s original team the right to match any offer sheet, but there is no compensation if the team does not match. Here are the franchise and transition tag numbers for 2023.