The NFL salary cap has been set at $123.9 million for the upcoming season, according to an ESPN report.
The cap was $120.6 million in 2012. The extra money will help teams keep their players once free agency opens on March 12.
The increase is a result of higher revenues last season and an increase in expected future league revenues, the report said.
The league and the union work together to establish a cap figure based on the collective bargaining agreement. There was no cap in 2010. The current 10-year deal was signed in August 2011, when the cap was set at $120.375 million.