Detroit Lions are floating in cap space following the NFL’s announcement of a $255.4 million salary cap for 2024.
The Detroit Lions find themselves with ample salary cap room as free agency approaches in just over two weeks.
The NFL recently disclosed a significant increase in the salary cap for the 2024 season, setting it at $255.4 million, a considerable jump from last year’s $224.8 million cap.
The league attributed this increase, exceeding $30 million, to the full repayment of amounts advanced by clubs and deferred by players during the COVID-19 pandemic, as well as a notable surge in media revenue for the upcoming season.
According to OverTheCap.com, the Lions currently have approximately $171 million in cap commitments for 2024. This figure is set to rise with proven performance escalators for Amon-Ra St. Brown and Alim McNeill factored in, along with an additional $23 million in dead cap money. Consequently, the Lions anticipate starting the new league year with $63.7 million in cap space, ranking them eighth in the NFL in terms of available funds.
Meanwhile, the Washington Commanders, New England Patriots, and Chicago Bears boast more than $80 million in cap space each.
In the NFC North, the Minnesota Vikings comfortably sit under the cap with $37.8 million in room, though they face the challenge of not having a starting quarterback under contract for 2024. The Green Bay Packers are approximately $8 million under the cap.
Lions general manager Brad Holmes stated after the 2023 season that the team won’t be major players in free agency. Instead, they plan to focus on securing long-term contracts for some of their young core players. Notably, St. Brown, McNeill, and All-Pro right tackle Penei Sewell are eligible for contract extensions for the first time this offseason. Additionally, the Lions are expected to negotiate a new long-term deal with quarterback Jared Goff, which would likely place him among the highest-paid players at his position.
The Lions also made a move on Tuesday by releasing safety Tracy Walker, freeing up approximately $5.5 million in cap space.
