With the majority of NFL teams in offseason mode, one of the big questions for the league has been exactly where the salary cap would land for 2023. The hope for most had been that the record setting new television contracts the league had signed would be sufficient to offset the losses from the 2020 COVID season, and on Monday the league delivered some good news.
So, while the cap for the 2023 season will not come in quite where many had expected it, it will see a significant jump from 2022.
The NFL informed teams today that the 2023 salary cap will be a record $224.8 million per club, sources tell me and @RapSheet.— Tom Pelissero (@TomPelissero) January 30, 2023
That’s up from $208.2 million in 2022, $182.5M in 2021 (COVID adjustment), 198.2M in 2020 and $188.2M in 2019.
Tom Pelissero notes the fluctuation of the cap in recent years following the revenue loss from COVID, and the low-interest loan the players received from the owners should be paid in full at the conclusion of the 2023 league year. Once that loan is repaid, it will allow for the cap to see even greater increases in the coming year, with most cap experts anticipating increases to $255M and $280M in 2024 and 2025, respectively.
Basically, what it all boils down to is that the Seattle Seahawks under the direction of John Schneider and Pete Carroll now have a whole lot of money to give to Geno Smith.