NFL sets salary cap at $224.8 million for 2023
The NFL set the salary cap for the 2023 season at $224.8 million, the league announced Monday.
This figure is right around where the projections thought it would be, especially after earlier reports that the final number would exceed $220 million.
Outside of the COVID-19 season, the league has enjoyed a boom in salary cap for the better part of the last decade in which the salary cap has increased every season.
It hits a new high in 2023, reaching $224.8 million.
The NFL informed teams today that the 2023 salary cap will be a record $224.8 million per club, sources tell me and @RapSheet.
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 (@TomPelissero) January 30, 2023
The Colts won’t be flush with cash like we’re used to seeing. According to Over The Cap, they’ll have roughly $13 million in cap space—not including the pool of rookie contracts—and they will roll over roughly $6 million from the 2022 season. So they should be working with roughly $20 million in cap space.
NFL teams recently declared unused 2022 cap space rollover amounts (below).
After the playoffs, the NFL will audit incentives, bonuses, etc by team. That figure will be added/subtracted to the number below.
The sum + the 2023 Salary Cap = each team's 2023 adjusted cap number. pic.twitter.com/GJC8E7EsrO
— Field Yates (@FieldYates) January 12, 2023
That is all subject to change if and when they make roster moves. The most notable comes in the form of releasing or trading quarterback Matt Ryan. The Colts can save $18 million in cap space by releasing him before March 17. They also can save $7.5 million by trading or releasing cornerback Kenny Moore II.
The Colts have 16 players set to be unrestricted free agents this offseason, including linebacker Bobby Okereke, defensive end Yannick Ngakoue and wide receiver Parris Campbell.
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