How 2024’s record-breaking salary cap increase affects the Panthers

Business is absolutely  booming in the NFL. In fact, it’s booming more than it ever has.

On Friday, the league officially announced the salary cap for the 2024 season. The official figure has been set at $255.4 million, a new record high.

The previous high was set ahead of the 2023 campaign, when the number settled in at $224.8 million. The $30.6 million jump also marks the largest year-to-year increase in league history.

So, what does that mean for your Carolina Panthers?

Well, obviously, it means mo’ money.

Over the Cap, the popular salary cap and contract information hub, had previously projected the figure at approximately $242 million. That would’ve put the Panthers at $28.6 million of space for the offseason.

But now, that number should give them $40.2 million to work with.

That’ll obviously be of use, particularly with pending free agent Brian Burns. The two-time Pro Bowl pass rusher is still without a long-term agreement from the organization and was reportedly seeking around $30 million in annual value.

If the Panthers do not meet with Burns on a new pact, they are likely to apply the franchise tag to their top edge defender. That figure also experienced an increase, as linebackers would earn just over $24 million for 2024.

Story originally appeared on Panthers Wire