Free agency is roughly one month away, and teams are preparing for the first major roster-building checkpoint on the offseason calendar. In several cases, of course, the lead-in to the start of the new league year will require cost-cutting measures.
Teams expect the 2025 cap ceiling to check in somewhere between $265MM and $275MM, providing a general target to aim for before the final figure is unveiled by the NFL. Using a projected cap of $272.5MM, here is a look at where all 32 teams currently stand (courtesy of Over the Cap):
These figures will of course change based on where the final cap ceiling winds up for the year, but they take into account each team’s carryover amount for 2025. Even with those savings in play, more than one quarter of the league finds itself in need of cost-shedding moves to simply achieve cap compliance by mid-March.
With the Patriots leading the way in terms of spending power, they will be a team to watch closely once free agency begins. The team’s willingness (or lack thereof) to make major free agent additions last year was a talking point, and it will be interesting to see if the regime featuring de facto general manager Eliot Wolf and new head coach Mike Vrabel takes a different approach in 2025. A serious push for Tee Higgins – by far the most sought-after wideout set to hit the market – can be expected.
Aside from Higgins, the Bengals have a number of financial priorities. Working out a monster extension for fellow receiver Ja’Marr Chase and a new deal (and accompanying raise) for edge rusher Trey Hendrickson are key goals for the franchise. Quarterback Joe Burrow is prepared to restructure his own pact to create cap space for this offseason, but the team will no doubt need to break with tradition in terms of contract structure and guarantees to keep its core intact.
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