NFL Team Cap Situations and Free Agency Prospects for 2025

The NFL offseason is heating up, with free agency set to begin in roughly one month. Teams are already preparing for significant roster changes, often requiring strategic budgeting to stay under the salary cap. As the 2025 cap ceiling is projected to hover around $265MM to $275MM, teams are positioning themselves accordingly to navigate the upcoming spending period.

Current Team Financial Standings

Using a projected cap of $272.5MM, here’s how each team’s salary cap space stands as of now (via Over the Cap):

1. New England Patriots: $119.8MM
2. Las Vegas Raiders: $92.53MM
3. Washington Commanders: $75.21MM
4. Arizona Cardinals: $71.33MM
5. Los Angeles Chargers: $63.41MM
6. Chicago Bears: $62.97MM
7. Minnesota Vikings: $58.01MM
8. Pittsburgh Steelers: $53.26MM
9. Cincinnati Bengals: $46.26MM
10. Detroit Lions: $45.69MM
11. San Francisco 49ers: $44.26MM
12. Tennessee Titans: $44.08MM
13. New York Giants: $43.38MM
14. Green Bay Packers: $42.14MM
15. Los Angeles Rams: $38.33MM
16. Denver Broncos: $34.78MM
17. Jacksonville Jaguars: $32.27MM
18. Indianapolis Colts: $28.25MM
19. Carolina Panthers: $20.33MM
20. Philadelphia Eagles: $18.08MM
21. New York Jets: $16.86MM
22. Baltimore Ravens: $5.96MM
23. Tampa Bay Buccaneers: $2.24MM
24. Houston Texans: $99K over the cap
25. Kansas City Chiefs: $916K over
26. Dallas Cowboys: $2.85MM over
27. Miami Dolphins: $5.44MM over
28. Atlanta Falcons: $11.15MM over
29. Seattle Seahawks: $13.46MM over
30. Buffalo Bills: $14.18MM over
31. Cleveland Browns: $30.17MM over
32. New Orleans Saints: $54.11MM over

These figures are based on projected carryovers for each team, which can reduce cap liabilities. Despite these adjustments, more than a quarter of the league is facing significant cost-cutting challenges.

Potential Spending Power and Priorities for Key Teams

With $119.8MM in cap space, the New England Patriots stand out as the team with the most resources. Under de facto GM Eliot Wolf and head coach Mike Vrabel, look for them to be aggressive in free agency. Teaming up with the highly sought-after wide receiver Tee Higgins, projected to command over $30MM in average annual value (AAV), could be a priority.

Cincinnati Bengals

The Bengals have a multitude of pressing cap issues. Securing a long-term deal with star receiver Ja’Marr Chase and negotiating a new contract for edge rusher Trey Hendrickson are top priorities. Joe Burrow is reportedly open to restructuring his deal to facilitate these moves, although the team may need to deviate from its usual approach to contract structure and guarantees.

Indianapolis Colts

Chris Ballard’s Colts have traditionally focused on retaining key players but have not seen the expected results. This offseason marks a shift in strategy, with Ballard indicating a willingness to make strategic additions in free agency. With sufficient financial flexibility, the Colts may pursue middle-market free agents to bolster their roster.

Cost-Shedding Moves and Restructures

Several teams are actively working to free up cap space through restructures and cuts. For instance, the Seattle Seahawks recently reworked Leonard Williams’ deal, freeing up some room. Similarly, the Steelers released Preston Smith and the Dolphins let go of Raheem Mostert, Kendall Fuller, and Durham Smythe, all aimed at regularizing their cap situations.

Teams Over the Cap

Notably, several teams currently sit over the cap, requiring immediate action. These include the Houston Texans, Kansas City Chiefs, Dallas Cowboys, Miami Dolphins, Atlanta Falcons, Seattle Seahawks, Buffalo Bills, Cleveland Browns, and New Orleans Saints. These teams will need to make adjustments quickly to avoid penalties and remain competitive.

Outlook for the 2025 Free Agency Period

The impending free agency period promises significant movement and strategic maneuvering. Teams like the Patriots and Bengals have the means and motivation to make splashy acquisitions, while others like the Colts intend to change their recruitment strategy. With projected cap constraints, most teams will engage in restructures, cuts, and targeted signings to achieve their goals.

Conclusion

As the NFL offseason unfolds, the salary cap situation remains a critical factor in determining each team’s direction. From New England’s cap bonanza to Cleveland’s daunting overage, every team faces unique challenges and opportunities. With a robust free agent pool and finite financial resources, the coming weeks will be crucial in shaping the 2025 NFL season.

Stay tuned for more in-depth analysis of specific teams and player movements. Don’t forget to like, comment, and share your thoughts on the upcoming free agency period!