On February 23, the NFL revealed that each team’s salary cap for 2024 will be $255.4 million, with an extra $74 million allocated for player benefits such as Performance Based Pay and retired player benefits. This announcement, first reported by Tom Pelissero, is noteworthy because it exceeds previous estimates. As a result, the Buffalo Bills will have a reduced financial obligation to meet the upcoming season’s cap.
The projected cap limit of $242.5 million was the talk of the town until Friday’s announcement. This news has resulted in a reduction of overage by more than $13 million for general manager Brandon Beane and the front office. Although One Bills Drive is still over the cap ceiling, they are now only $41 million over for this season, instead of the initial $54 million. The team has not yet made any moves to clear cap space, and it remains to be seen how they will proceed. With this development, they might consider re-signing some of the free agents, including DaQuan Jones, Leonard Floyd, and Taylor Rapp, who were expected to leave.
