(670 The Score) The NFL on Friday announced an unprecedented rise in its salary cap, with an increase of $30 million from last year taking it to $255.4 million per team for the 2024 season. The figure was considerably higher than what had previously been projected around the league.
As it does for all teams, the salary cap jump will give general manager Ryan Poles and the Bears move room to maneuver as they look to address their needs. Chicago is projected to have the third-most salary cap space of any team in the NFL, with roughly $80.4 million in cap space, according to Over The Cap. Only the Commanders ($87.1 million) and Patriots ($83 million) have more money available to spend than the Bears.
The Bears have ample spending capability during an offseason in which they own the No. 1 and No. 9 overall picks in the NFL Draft and have a pivotal quarterback decision to make. Poles could potentially reveal that decision as early as next week at the NFL Combine, as there's the possibility for the Bears to trade three-year starter Justin Fields and select USC star Caleb Williams with the No. 1 pick.
The Bears want to emerge as contender in 2024 after going 7-10 and missing the playoffs in 2023, which marked Poles' second year on the job. Chicago has undergone a significant rebuild under the watch of Poles, who two years ago parted ways with veterans to clear up the books and create salary cap flexibility in the years to come.
On March 11, NFL teams can begin negotiations with representatives for free agents. Given the increased salary cap, the Bears could adjust their plan to be even more aggressive.
In free agency, the Bears could be interested in defensive lineman Chris Jones (Chiefs) or pass rusher Brian Burns (Panthers), who are two standout players set to be available in a strong class.
This rise in the salary cap may also be good news for Pro Bowl cornerback Jaylon Johnson, who hopes to re-sign in Chicago on a long-term contract extension. Johnson, 24, and the Bears held negotiations but failed to reach an agreement on a new deal this past season. Teams have until March 5 to tender the franchise tag on players, which is considered the likelihood with Johnson. That tag would pay him $19.8 million in 2024, a figure that was set Friday along with the salary cap number. With more money at their disposal, the Bears can more comfortably negotiate with Johnson to lock him into their long-term plans.
The NFL’s new league year officially begins March 13 at 3 p.m. CT, which is when free-agent signings and trades can become official. Poles and the Bears should have plenty to share at that point.
Chris Emma covers the Bears, Chicago’s sports scene and more for 670TheScore.com. Follow him on Twitter @CEmma670 .
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