NFL will reportedly raise salary cap from $123 million to $130 million in 2014

Anwar S Richardson

The New Orleans Saints and Dallas Cowboys received encouraging news on Thursday.

According to ESPN reporter Adam Schefter, the NFL will raise its salary cap to about $130 million, up about five percent from $123 million last year.

The increase helps New Orleans, which was reportedly $2.6 million under the cap. New Orleans plans to retain tight end Jimmy Graham, but the standout wants to be paid like a receiver. If Graham is franchised as a tight end, he would earn $6.8 million next season, but a receiver would earn around $11.6 million. The extra money will help New Orleans during the offseason.

In addition, Dallas was projected to be $20 million to $25 million over the salary cap. The Cowboys may be forced to release DeMarcus Ware, who will have a salary cap figure over $16 million in 2014. The increase may not help Dallas retain Ware, but it will help the front office decide his fate sooner than later.

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Anwar S Richardson is a writer for Shutdown Corner on Yahoo Sports. Have a tip? Email him at NFLAnwar@yahoo.com or follow him on Twitter!