The salary cap in 1999 was $ 57,288,000. It was $224,800,000 in 2023. The salary cap has roughly quadrupled in that time. A $4 million salary for a top CB would be the same $16 million today which is about right.
A look at the CBAs and history of the salary cap for each year of the NFL.
www.spotrac.com
Then, as now, the cap was tied to revenue. Still in Foxboro Stadium, the Patriots were at the bottom of the league in local revenue having just a handful of years earlier paid $ 187 million to buy the team and had committed $350 million to build Gillette Stadium without public money or PSLs which was the norm even back in those days.
Free agency was in it’s infancy. The Pats didn’t use it much or need to in those days. But, the Patriots still gave out top of the market contracts to Bledsoe, Armstrong and Coates on offense plus vastly overpaying the right side of their Oline in Todd Rucci and Max Lane. On defense, McGiniest, Milloy was paid top dollar, and if memory serves, Ty Law was the highest paid CB. The spending was so high; the first thing Bill had to do was to get the salary cap back in order.
You don’t have to hate the Krafts to love Bill. I know many of you are still crestfallen at Bill’s polite firing, but the league in a way rubber stamped it by the lack of interest in hiring Bill through this year’s head coaching musical chair period.