Focussing more on team total contract values (Annual pay per year -APY) and cap charges for those values rather than the current over-under cap number provides more insight.
What does the data show about total team contract values? The findings might surprise you. Using Over The Cap as my primary source, I compared each team's top 53 cap-charged players to their actual contract values as of August 1, 2024.
The League
Each club's new cap numbers for the 2024 season increased by 14% from 2023 ($224.8M to $255.4M). Club overall contract values currently stand at 5% higher than 2023. Extensions and free-agent signings between now and kickoff will increase this value, but it will be far from the 14% new cap.
The contracts' cap charges are 8% higher than in 2023. Extensions and free-agent signings between now and kickoff will decrease this value, but it will be far from the 80% of last season.
Twenty-three clubs have higher contract values than last season, nine lower. The Texans' contract value with a quarterback on a rookie contract has gone up $75M APY. The Chargers have declined the most in contract value at $77M APY.
The Eagles currently hold the highest-valued contracts, at $307M APY, and the Chargers the lowest, at $200M APY (with less than $10M of cap to work with).
The Patriots
The Patriots' current contract value of $223M APY is the 23rd highest of 32 clubs, a significant improvement from their previous ranking. The cap charge on those contracts is currently the 16th highest of 32 clubs.
Last year, the Patriots had the league's lowest contract values and the highest cap charge, which was challenging. However, they have significantly improved their cap situation in 2024.
The Patriot's contract value increase of $49M APY in 2024 is the 5th best in the league. The Patriots also have significant room to maneuver. Assuming the Patriots need $10M for injured reserve and other adjustments at the season opener, this gives them an additional $32M of cap to spend, the 2nd highest in the league.
As a biased Green Bay Packers fan looking in, I would say the Patriot cap situation for 2024 looks much more promising than it did in 2023.
What does the data show about total team contract values? The findings might surprise you. Using Over The Cap as my primary source, I compared each team's top 53 cap-charged players to their actual contract values as of August 1, 2024.
The League
Each club's new cap numbers for the 2024 season increased by 14% from 2023 ($224.8M to $255.4M). Club overall contract values currently stand at 5% higher than 2023. Extensions and free-agent signings between now and kickoff will increase this value, but it will be far from the 14% new cap.
The contracts' cap charges are 8% higher than in 2023. Extensions and free-agent signings between now and kickoff will decrease this value, but it will be far from the 80% of last season.
Twenty-three clubs have higher contract values than last season, nine lower. The Texans' contract value with a quarterback on a rookie contract has gone up $75M APY. The Chargers have declined the most in contract value at $77M APY.
The Eagles currently hold the highest-valued contracts, at $307M APY, and the Chargers the lowest, at $200M APY (with less than $10M of cap to work with).
The Patriots
The Patriots' current contract value of $223M APY is the 23rd highest of 32 clubs, a significant improvement from their previous ranking. The cap charge on those contracts is currently the 16th highest of 32 clubs.
Last year, the Patriots had the league's lowest contract values and the highest cap charge, which was challenging. However, they have significantly improved their cap situation in 2024.
The Patriot's contract value increase of $49M APY in 2024 is the 5th best in the league. The Patriots also have significant room to maneuver. Assuming the Patriots need $10M for injured reserve and other adjustments at the season opener, this gives them an additional $32M of cap to spend, the 2nd highest in the league.
As a biased Green Bay Packers fan looking in, I would say the Patriot cap situation for 2024 looks much more promising than it did in 2023.
