NFL Free Agency 2024: Salary-Cap Space for Every AFC Team
The confetti has been swept off the Allegiant Stadium field. The Lombardi Trophy is in the Kansas City Chiefs’ clutches for another year.
Now it’s time to see who can catch them.
That pursuit starts in earnest after the franchise tag window closes March 5, followed by the start of the NFL free agency’s legal-tampering period March 11.
The NFL salary cap is now a record $255.4 million for the 2024 season.
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So what is every AFC team’s position going into free agency? Who has money to spend and who simply has to get under the $255 million salary cap? Let’s dive in and take a look at what each team could be thinking.
All cap figures as of March 4 by OverTheCap.com.
Baltimore Ravens
Cap space: $12.4 million
Baltimore has a litany of tough decisions. The Ravens will likely tag defensive tackle Justin Madubuike if the two sides don’t agree on a long-term deal before the franchise tag deadline of March 5. If that happens, Madubuike will get $22.1 million.
Then there’s guard Kevin Zeitler, safety Geno Stone, edge rusher Jadeveon Clowney and inside linebacker Patrick Queen, who are all slated for unrestricted free agency.
Buffalo Bills
Cap space: -$41.3 million
Buffalo isn’t likely to be a big player in free agency for obvious reasons, but can create some room with extensions and restructures. GM Brandon Beane can do the former with left tackle Dion Dawkins and corner Taron Johnson, both of whom are free agents next winter.
Beane can also release safety Jordan Poyer and corner Tre’Davious White if he chooses, saving $5.7 million and $10.2 million (post-June 1).
Cincinnati Bengals
Cap space: $48.5 million
Having placed the franchise tag on receiver Tee Higgins, the Bengals already took care of their biggest business this offseason. Now it’s about trying to shore up a defense which ranked 31st in 2023.
Cincinnati can also open up an additional $6.1 million of cap space by releasing running back Joe Mixon, which is an expected move.
Cleveland Browns
Cap space: $6.7 million
The Browns can create more room by simply extending star receiver Amari Cooper, who is slated for a $23.7 million cap hit. Cleveland also has the lever of releasing running back Nick Chubb, which would save $11.8 million.
While the Browns aren’t going to be spending freely this winter, they aren’t crippled by the cap, either.
Denver Broncos
The Broncos will likely release Wilson, putting them a whopping $66.4 million over the cap.
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Cap space: -$16.3 million
The Broncos are in brutal shape. Denver informed quarterback Russell Wilson that it will release him when the new league year begins. The move will trigger $85 million in dead money and put the Broncos a whopping $66.4 million over the cap without a starting quarterback on the roster.
To get cap compliant, the Broncos may release left tackle Garett Bolles ($16 million savings), receiver Tim Patrick ($9.5 million) and defensive tackle D.J. Jones ($9.9 million) before extensions and restructures.
Houston Texans
Cap space: $69.6 million
The Texans are in great shape moving forward. Houston has C.J. Stroud on a rookie contract, multiple cheap defensive stars and the ability to aggressively add this offseason.
GM Nick Caserio should prioritize re-signing edge rusher Jonathan Greenard before trying to upgrade the defense in free agency. Houston can target anybody and in most cases, outbid its competition.
Indianapolis Colts
Cap space: $70 million
Much like the Texans, the Colts have a quarterback on a rookie deal and a ton of cap space. The question is how GM Chris Ballard will use it as he’s been hesitant to spend big in the past.
For Indianapolis, the first order of business should be tagging receiver Michael Pittman Jr. and then trying to retain corner Kenny Moore II. From there, the secondary continues to be a need, along with tight end and another wideout alongside Pittman and Josh Downs.
Jacksonville Jaguars
Cap space: $29.2 million
The Jaguars have cap space and can add to it by releasing veteran corner Darious Williams for another $11 million. Jacksonville also has a decision to make on receiver Calvin Ridley, with Christian Kirk and Zay Jones returning.
For the Jaguars, the focus must be on fixing the pass defense. The first move is tagging edge rusher Josh Allen, and then trying to add on the back end with smart, affordable signings.
Kansas City Chiefs
Cap space: $3.4 million
The defending champs released receiver Marquez Valdes-Scantling, creating an additional $12 million in cap space. They also have the option to restructure Patrick Mahomes’s deal, which could create another $37 million more.
However, the Chiefs have myriad free agents of note, including corner L’Jarius Sneed and defensive tackle Chris Jones. It’s almost certain one will be tagged.
Las Vegas Raiders
Cap space: $42 million
The Raiders are flush with space and can create more with the expected release of quarterback Jimmy Garoppolo after his two-game suspension for violating the league’s performance-enhancing drug policy.
More importantly, Las Vegas has few big names to re-sign, with the only big decision being running back Josh Jacobs. Look for new GM Tom Telesco to spend in free agency, perhaps targeting defense, along with the offensive line.
Los Angeles Chargers
Cap space: -$25.6 million
No team is going to have more high profile decisions than the Chargers. Los Angeles has four stars with cap hits of more than $32 million in 2024, including receivers Keenan Allen and Mike Williams, and edge rushers Joey Bosa and Khalil Mack.
Of those four, extending Allen makes the most sense while Williams seems an obvious cut. Mack had 17 sacks last season but at 33 years old, could be traded for a draft pick or two. Tough calls in Los Angeles.
Miami Dolphins
Dolphins GM Chris Grier can extend Tagovailoa before the new league year to create more cap space.
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Cap space: -$31.6 million
The Dolphins have begun digging out financially with the release of corner Xavien Howard. Now comes the tougher decisions. Does GM Chris Grier extend quarterback Tua Tagovailoa to lower his $23.1 cap hit? What about releasing linebacker Jerome Baker, who would be a $9.8 million savings?
For Miami, there aren’t a ton of easy answers, and star defensive tackle Christian Wilkins set for free agency.
New England Patriots
Cap space: $101.7 million
The Patriots enter the offseason with a few priorities, starting with whether to tag safety Kyle Duggar or guard Michael Onwenu. From there, New England must upgrade offensively both in free agency and the draft, and has the cap space to be a player.
Looking at the available players, the Patriots could go after a receiver to pair with youngster Demario Douglas, along with a veteran quarterback to replace Mac Jones.
New York Jets
Cap space: $20.7 million
GM Joe Douglas has to be smart this winter. After going all in last year with the trade for Aaron Rodgers accompanied by the ill-fated signings of receivers Mecole Hardman and Allen Lazard, Douglas can’t afford any mistakes.
New York must address its awful offensive line at tackle and at guard, while also trying to retain edge rusher Bryce Huff. In 2023, Huff broke out with 10 sacks.
Pittsburgh Steelers
Cap space: $7.9 million
The Steelers are tight against the cap, but they can create space with the releases of receiver Allen Robinson ($10 million) and corner Patrick Peterson ($6.8 million) if they choose.
Pittsburgh should be looking to address its tackle position this offseason while also adding to a corner group with Joey Porter Jr. and little else in the way of long-term answers.
Tennessee Titans
Cap space: $75.6 million
Tennessee has ample needs under second-year GM Ran Carthon. The Titans have to upgrade their offensive line, find another receiver and shore up a leaky secondary short on premium corners.
While spending wildly won’t make Tennessee a contender in 2024, Carthon should be doing everything within reason to make sure quarterback Will Levis has a legitimate chance to succeed.
