Falcons to have nearly $42 million in cap space as NFL sets figure for 2024 season

The NFL’s salary cap figure for 2024 will be $255.4 million, according to Jonathan Jones of CBS Sports, which gives the Falcons around $40 million in cap space this offseason, per OverTheCap, and nearly $42 million, per Spotrac

That $30.6 million increase is apparently the largest year-to-year increase in total money in league history, so I would expect the NFL to have some record-breaking contracts this offseason.

For the Falcons, this couldn’t be better news. A.J. Terrell needs a new deal, but even beyond that, the roster has holes at the most important (and expensive) positions in the sport — quarterback, wide receiver, edge, and cornerback.

The Falcons will have around $40 million to spend to fill those needs in free agency, but that figure could rise by $20 million more if they part ways with Taylor Heinicke, Jonnu Smith, Mike Hughes, and Lorenzo Carter.

And Terry Fontenot will have plenty of options to spend the Falcons cap space on. The edge rusher market is robust with free agents. Josh Allen, Danielle Hunter, and Brian Burns are the top free agents and will garner top-of-the-market contracts, but some aren’t guaranteed to hit the open market because of the franchise tag.

There are still plenty of other options, though — Bryce Huff, Chase Young, Jonathan Greenard, Jadeveon Clowney, Za’Darius Smith, and Josh Uche to name a few.

As far as pass catchers, the free agent market isn’t quite as plentiful in options, but there’s still worthwhile players to acquire. Tee Higgins is the top wideout expected to be available in free agency, but Mike Evans, Michael Pittman, Calvin Ridley, Darnell Mooney, Gabe Davis, Tyler Boyd, and Curtis Samuel are attractive targets as well.

The Falcons have also been linked to some of the top free agent quarterbacks in Kirk Cousins and Baker Mayfield. Both are expected to garner around $30-40 million per season, so this is good news for Atlanta that they’ll have more cap space than initially anticipated.

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Photographer: Zach Bolinger/Icon Sportswire