NFL salary cap rises to record total for 2023 as teams note Tom Brady free agency

The NFL has told franchises the salary cap will rise to a record $224.8 million for the 2023 season.

In a memo sent to all 32 franchises on Monday, the NFL informed figures of the record sum to be spent on player wages for the upcoming season. It represents a solid increase on the 2022 salary cap, which was $208.2m.

This means teams will be able to spend on stars in free agency - or even move for those under contract with rivals, via trade.

Tom Brady headlines the free agent class of 2023, which also features running back Saquon Barkley and much of the vaunted Philadelphia Eagles pass-rush that led them to the Super Bowl - with Robert Quinn, Brandon Graham, Javon Hargrave and Fletcher Cox all set to be available.

Several teams will be thrilled with the record salary cap. According to Spotrac, the franchises projected to have the most spending power available under the salary cap are the Chicago Bears ($99m), Atlanta Falcons ($57m), Cincinnati Bengals ($44.5m) and New York Giants ($44m).

The significant increase of $16.6m could help the Giants in particular as they look to tie down Barkley as well as quarterback Daniel Jones. The Bengals will also be pleased as they look to retain free agents like star safety Jessie Bates while also completing a long-term - and highly-lucrative - extension for Joe Burrow.

Burrow is under contract with a base salary of $11,515,044 on the final year of his four-year, $36.1 million deal signed as the first overall pick in the 2020 NFL Draft out of LSU. His rookie contract includes a fifth-year option for 2024, but the Bengals have publicly declared they plan to be proactive in addressing Burrow's contract status in order to get a deal over the line.

However, several franchises would have liked to see the figure go higher. Plenty of teams are operating over the salary cap already, including 2022 playoff teams tje Buffalo Bills and Jacksonville Jaguars at $20m and $32m respectively.

NFL Network reported the record-high salary cap figure came about due to new profitable media deals as well as the 17th regular season match, which was added ahead of the 2021 season. The salary cap traditionally increases annually, with the exception of 2020 to 2021 when it fell by $15.7m amid the Covid pandemic.

NFL free agency open on March 15, the official start of the 2023 league year. All 2022 player contracts expire and franchises can begin signing new free agents making trades.