Eagles’ biggest winners from NFL raising the 2024 salary cap to $255.4M
The NFL announced a massive $30.6 million salary increase from 2023, proving how quickly the league has risen. It’s a little under the original salary cap set in 1994 of $34.6 million.
The 2024 cap is officially $255 million, and where things currently stand, Philadelphia is expected to have roughly $32,163,513 available, according to Over The Cap.
The Birds are set to have 20 pending free agents, and with another likely retool schedule on defense, the organization could conjure up a scheme for more flexibility.
The Eagles can easily create $35.4 million in cap space by making these five moves.
The cap increase could allow Howie Roseman to make several moves, and we’re looking at five Eagles who’ll benefit the most from the rise.
Haason Reddick
Extending Reddick would provide a cap savings of $11,832,000, and the extra $13 million in cap space could provide the parameters for a new deal.
Reddick finished the year with 11.0 sacks and 38 tackles in 17 regular-season games, and he recorded double-digit sacks for the fourth consecutive season, leading his team in that category and tying for 15th in the NFL.
Had Nolan Smith showed that he was ready to be an elite pass rusher, then the idea would be to cut Reddick, saving the Eagles $11 million after dead money allotment.
His 38 tackles were the second-lowest mark of his career, and he didn’t force or recovered a fumble after forcing five and recovering three last season. His snap share (74 percent) remained identical, indicating the drop-off wasn’t due to a lack of opportunities, but mismanagement from coaches.
Josh Sweat
Cutting Sweat with a Post June 1 designation would have given the Eagles a cap savings:of $4,300,000.
An extension creates $2,540,000.
Depending on who you ask, Sweat is either a building block for the future or a player Philadelphia could potentially move on from for salary cap purposes.
Sweat finished his sixth NFL season with 6.5 sacks (second-best on the Eagles) and 43 tackles in 17 regular-season games.
Sweat saw his role increase even more in the Eagles’ defensive end rotation this season, as his 71 percent snap share increased over his 56 percent mark from last season.
Philadelphia GM Howie Roseman might have questions about extending Sweat after his sack totals dropped from the 11.0 he logged in 2022.
Sweat had 5.5 sacks through nine games but didn’t manage another until Week 18.
Sweat is entering a contract year with a base salary of just over $1 million and a cap hit of just over $9 million.
He’s set to count over $21 million against the 2025 salary cap, but has he reached his ceiling as a pass rusher?
Sweat also had 19 QB hits through 10 games and just four in the last seven games.
Jordan Mailata
An extension for the Eagles left tackle would create $2,796,000 in cap space.
Before the 2021 NFL season, Mailata signed a four-year, $64,000,000 contract with the Eagles, including a $10,000,000 signing bonus, $40,850,000 guaranteed, and an average annual salary of $16,000,000.
Mailata finished this season as the third highest-graded offensive tackle in the NFL.
The road-grader allowed just three sacks and 45 total pressures in 677 pass-protection snaps.
Zoltan Bundy of PFF named Mailata the team’s most improved player in 2023, and Mailata was the only NFL offensive tackle this season to earn at least an 83.0 grade in both run blocking and pass blocking.
He’s the real deal and just getting started at 26 years old.
Vic Fangio
According to Spotrac, L’Jarius Sneed’s projected market value is a four-year, $65.3 million deal, worth $16.3 million per year. That would make Sneed the 10th-highest-paid cornerback in the NFL.
That extra cap space could help solidify a weakness for the Eagles.
The 27-year-old Sneed is one of the top young cornerbacks in the NFL
Sneed has forced eight turnovers over the past two seasons to go along with two fumble recoveries.
According to Pro Football Focus, Sneed posted a strong 71.1 defensive grade and 71.9 grade in coverage last season. Among cornerbacks with at least 500 defensive snaps, Sneed ranked 27th in defensive grade and coverage.
Darius Slay
Darius Slay has a $9 million option due on this date, and $1,210,000 in guaranteed salary.
The extra cap space should ensure his return.
DeVonta Smith
The deadline for Clubs to exercise Fifth-Year Option for players selected in the first round of the 2021 Draft is May 2.
Philadelphia will sign DeVonta Smith to an extension, or certainly exercise his fifth-year option.
The extra salary cap space could ensure that Smith’s signs an extension for $20 million a season, while saving the Eagles $1 milion.
D'Andre Swift
The Philadelphia native and former Georgia Bulldog will enter 2024 NFL free agency on a high after posting solid numbers.
Swift ranked 5th in the NFL with a career-high 1,049 rushing yards (first 1,000+ yard campaign), trailing only Christian McCaffrey (1,459), Derrick Henry (1,167), Kyren Williams (1,144) and James Cook (1,122).
He also logged 39 receptions for 214 yards and a touchdown.
Philadelphia only has Kenneth Gainwell under contract for 2024, and Spotrac has Swift’s market value at 4-years, $22 million.
The extra cap space could entice Howie Roseman to pay Swift $5 million per season.
