The NFL set the 2024 salary cap Friday.
Nell Redmond/AP
The NFL set its 2024 salary cap at $255.4 million Friday, the biggest leap in league history.
The Bears are projected to have $80.4 million in cap space to spend this offseason, per OvertheCap.com, which ranks third in the NFL.
The $30 million increase in the salary cap from last year is the result a jump in media revenue and the repayment of money advanced by the teams and deferred by players during the COVID-19 pandemic.
The Bears will have $68.3 million in space to spend after accounting for payments for their draft picks. The Bears are slated to pick first and ninth in the late April draft.
General manager Ryan Poles has another 10 days to work out an extension with cornerback Jaylon Johnson before he’s expected to give him the franchise tag. Even with the extension, the Bears figure to have plenty of money to spend in free agency next month. The team needs a starting edge rusher, safety, center and No. 2 wide receiver, in addition to extra help on both lines.