The NFL announced that the salary cap will go up by roughly $30 million dollars for the 2024 season. The cap will now be $255,400,000. That means the Patriots will have more money to spend.

According to patscap’s Miguel Benzan, the Patriots are projected to have $87.1 million dollars to spend in free agency and to sign their draft picks. 

If the Patriots cut or restructure cornerback J.C Jackson, Benzan projects they could have upwards of $100 million to spend. The team has yet to make a decision on Jackson but one is coming soon.

As it stands, the Patriots have the second most cap space in the NFL behind the Washington Commanders. With several needs on the roster most notably offensive line, wide receiver and tight end, expect the Patriots to be active this spring. 

Patriots coach Jerod Mayo recently said that the team is ready to use to the cap space they have.

“We’re bringing in talent, 1,000 percent,” Mayo said on WEEI. “We have a lot of cap space — and cash. We’re ready to burn some cash!”

According to the NFL, the “unprecedented $30 million increase per club in this year’s Salary Cap is the result of the full repayment of all amounts advanced by the clubs and deferred by the players during the Covid pandemic as well as an extraordinary increase in media revenue for the 2024 season.”

Now teams across the league will have more money to spend.

The league also unveiled transition rag numbers and they are as follows:

the transition tag numbers …

QB: $34.367 million

RB: $9.765 million

WR: $19.766 million

TE: $10.878 million

OL: $19.040 million

DE: $19.076 million

DT: $18.491 million

LB: $19.971 million

CB: $17.215 million 

S: $13.815 million

K/P: $5.433 million

The legal tampering period of free agency begins Monday March 11th. Free agency officially begins on Wednesday March 13th.