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NFL teams must place franchise tags on players by March 7, 2023, and they have until 4 p.m. ET on March 15, 2023, to be under the salary cap. Hence, teams have until March 15 to release select players and restructure deals that can aid their cap dealings.
After 4 p.m. ET, franchises can begin signing contracts with unrestricted free agents. The teams will also have to negotiate with impending available free agents between noon on March 13 and 4 p.m. ET on March 15. Still, official deals can only be agreed upon after the cap deadline.
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How is the 2023 NFL salary cap calculated?
The National Football League structures the salary cap by dividing the allocated percentage of revenues negotiated in the Collective Bargaining Agreement (CBA) by 32. Once this division is done, active players will receive 48 percent of revenue-sharing profits. The number increases by the year, as long as the NFL brings in more revenue.
The team to look forward to ahead of the 2023 NFL Salary Cap Deadline
The Chicago Bears are in the spotlight ahead of the 2023 salary cap deadline. The Bears currently have $94 million in cap space to add free agents, possess the first pick in the 2023 Draft. Many teams are probably envious of the situation that the Bears find themselves in. How many times can you make that statement in the NFL?
The Bears currently have one of the best dual-threat QBs in the league with Justin Fields at the center, so they can flip their number-one pick in many ways. The days are ticking to the salary cap deadline and Draft, and all eyes will be on the Bears.
The NFL salary cap space for teams in 2023
Here is a look at just how much money each franchise has to spend at the time of writing:
- Chicago Bears - $94,434,449
- Atlanta Falcons - $56,575,855
- Las Vegas Raiders - $48,389,838
- New York Giants - $46,733,739
- Houston Texans - $37,612,053
- Cincinnati Bengals - $35,673,058
- New England Patriots - $34,255,547
- Seattle Seahawks - $31,042,644
- Baltimore Ravens - $24,978,480
- Arizona Cardinals - $14,604,205
- Detroit Lions - $13,915,951
- Indianapolis Colts - $12,440,976
- Philadelphia Eagles - $9,725,176
- Denver Broncos - $9,387,224
- Washington Commanders - $8,352,246
- San Francisco 49ers - $8,063,016
- Pittsburgh Steelers - $162,747
- New York Jets - -$264,498
- Kansas City Chiefs - -$3,507,734
- Green Bay Packers - -$4,665,743
- Dallas Cowboys - -$7,008,743
- Carolina Panthers - -$7,743,950
- Cleveland Browns - -$13,534,606
- Los Angeles Rams - -$14,122,570
- Miami Dolphins - -$16,377,201
- Buffalo Bills - -$16,770,436
- Los Angeles Chargers - -$20,511,524
- Tennessee Titans - -$21,074,378
- Jacksonville Jaguars - -$22,753,686
- Minnesota Vikings - -$23,295,007
- New Orleans Saints - -$55,012,319
