The NFL salary cap is hitting a record high in 2023.
According to NFL media's Tom Pelissero and Ian Rapoport, the league informed clubs on Monday that the 2023 salary cap would rise to $224.8 million per team. That brings the salary cap up $16.6 million over a season ago and up $42.5 million since the COVID-adjusted 2021 season.
Obviously, this rise in salary-cap space will allow the Kansas City Chiefs and other NFL clubs some more flexibility in the offseason. Not only will they have an easier time retaining their own talent, but this will allow them a little more breathing room to add free agents as well.
The Chiefs are expected to be in the top half of the league in total cap space next season. They'll have some dead money coming off of the books and they've rolled over around $3 million in salary cap space. Current projections from OverTheCap at the new $224.8 million cap have the team at 13th in the NFL with just under $14 million in cap space. That comes prior to any restructures, extensions or cost-cutting measures by the team.
The 2023 NFL league year and the league's upcoming free agency period officially begin on March 15, 2023.
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Story originally appeared on Chiefs Wire