2024 NFL Salary Cap Viking will have salary cap advantage in 2024
The Minnesota Vikings were a rather busy team during the offseason's free agency period. But their spending was exactly in the middle of the league. However, the Vikings are positioning themselves to be major spenders in 2024 with some of their offseason additions and potential future ones. We'll discuss the possible route today that Minnesota might take to free up a significant amount of cap space for the upcoming offseason.
Current Situation in Minnesota
According to Over the Cap, the 2024 salary cap is anticipated to be $256 million. An increase of $31.2 million from the 2023 salary cap. Many clubs would benefit from a jump of this size in terms of their salary cap problems. But the Vikings would now be at little under $59.3 million. This is because Minnesota has not yet paid their impending 2023 Draught class. That figure will unavoidably decrease from where it is now. Given Kwesi Adofo-Mensah's propensity to execute trades. Additionally, the Vikings would pay their five rookies about $6.2 million if they made no changes to the amount of picks they had or the positions of those picks. Therefore, we will assume for our calculations that the draught class will earn about $8 million in 2024. We are now down to $51.3 million, which puts us in 19th place overall in the NFL.
Vikings Salary cap totals
Here is a table showing the projected salary cap totals and related projected cap space for each NFL team in 2024. Please note that due to the fact that the real wage cap data for 2024 is not yet available, the following values are hypothetical and subject to change:
| Team | Salary Cap Total | Estimated Cap Space |
|---|---|---|
| Arizona Cardinals | $232,000,000 | $3,000,000 |
| Atlanta Falcons | $229,500,000 | $5,500,000 |
| Baltimore Ravens | $233,750,000 | $1,250,000 |
| Buffalo Bills | $231,800,000 | $3,200,000 |
| Carolina Panthers | $233,500,000 | $1,500,000 |
| Chicago Bears | $230,000,000 | $5,000,000 |
| Cincinnati Bengals | $233,000,000 | $2,000,000 |
| Cleveland Browns | $234,000,000 | $1,000,000 |
| Dallas Cowboys | $231,500,000 | $3,500,000 |
| Denver Broncos | $228,000,000 | $7,000,000 |
| Detroit Lions | $234,500,000 | $500,000 |
| Green Bay Packers | $233,500,000 | $1,500,000 |
| Houston Texans | $229,000,000 | $6,000,000 |
| Indianapolis Colts | $234,250,000 | $750,000 |
| Jacksonville Jaguars | $232,500,000 | $2,500,000 |
| Kansas City Chiefs | $232,000,000 | $3,000,000 |
| Las Vegas Raiders | $230,800,000 | $4,200,000 |
| Los Angeles Chargers | $232,500,000 | $2,500,000 |
| Los Angeles Rams | $231,750,000 | $3,250,000 |
| Miami Dolphins | $229,200,000 | $5,800,000 |
| Minnesota Vikings | $232,500,000 | $2,500,000 |
| New England Patriots | $233,250,000 | $1,750,000 |
| New Orleans Saints | $230,500,000 | $4,500,000 |
| New York Giants | $229,000,000 | $6,000,000 |
| New York Jets | $234,500,000 | $500,000 |
| Philadelphia Eagles | $232,000,000 | $3,000,000 |
| Pittsburgh Steelers | $230,500,000 | $4,500,000 |
| San Francisco 49ers | $231,250,000 | $3,750,000 |
| Seattle Seahawks | $231,500,000 | $3,500,000 |
| Tampa Bay Buccaneers | $232,250,000 | $2,750,000 |
| Tennessee Titans | $229,500,000 | $5,500,000 |
| Washington Football Team | $230,200,000 | $4,800,000 |
The Major Changes to Come in jCap-Vikings
The Vikings might very easily generate much more with a few significant transactions. Even though $50 million is a hefty penny for the upcoming offseason and undoubtedly more than Minnesota had to deal with going into the 2023 offseason. That we don't need to be unduly concerned about this enormous sum of money is further evidenced by the fact that this includes letting go of Kirk Cousins and taking on his $28.5 million in dead money. These cap totals will also account for Justin Jefferson's $19.7 million fifth-year option.
Alternative solutions for Minnesota
Here is a preliminary list of alternatives if Minnesota decides to part ways with their current starting quarterback:
- Cut/Trade This summer or the following spring, Dalvin Cook, saving $12.5 million in 2024.
- Za'Darius Smith can be cut or traded this summer or the next spring, saving $20 million in 2024.
- Reorganise Brian O'Neill the following spring, deferring $8.9 million.
- Next spring, terminate Harrison Phillips to save $6.5 million in 2024.
- By firing Harrison Smith in the spring of 2019, $11.3 million will be saved.
- Leave Danielle Hunter alone.
The Vikings would end up with between $91 and $92 million for the upcoming offseason. If they factor in the $58.2 million sum that is being ascribed to Cousins and Jefferson as well as the money spent on draught picks this spring.
The Vikings may have between $11 and $20 million in salary room in 2023. After signing their draught picks if they decide to part ways with Cook and Z. Smith this offseason, depending on how and when the moves are made.
This might pave the way for a future OBJ or DeAndre Hopkins trade, or it might just allow them some breathing room to make a move later on in the season. If they identify a critical need brought on by an injury or a group of players who aren't performing well. Whatever the case, having more cap space is always a good thing.
How will Minnesota use its available capital?
There are a few items that need to be completed before the Vikings can sign free agents. If they do find themselves in a situation where they have $90+ million heading into the 2019 offseason. Ezra Cleveland, Marcus Davenport, T.J. Hockenson, and K.J. Osborn's new contracts as well as prospective agreements for other depth players must be taken into account. It's quite doubtful that this will bring the Vikings' cap space for free agency in 2024 below the $40–$50 million mark. However, a sizable portion of it might be taken away. A Byron Murphy extension is one further step Minnesota can make to make extra room.
Free market’s impact on Vikings salary
There may be a significant need for EDGE in the free agent market the following summer if Danielle Hunter and Za'Darius Smith leave the team. Although it's difficult to predict who will really enter the market in around 11 months. For instance, men like Josh Allen (the Jacksonville quarterback, not the quarterback for Buffalo), Rashan Gary, Trey Hendrickson, and Montez Sweat are now among the initial group. Moreover, Mecole Hardman, Marquise Brown, DJ Chark, Michael Pittman, and Calvin Ridley will all be free agents again the following year if Minnesota wishes to sign a receiver.
The cap space, nevertheless, continues past 2024. According to Over the Cap, the Vikings currently have upwards of $200 million set up for the 2025 offseason if things keep going in the right direction. It's definitely too early to speculate about the Vikings' offseason plans. But it's important to note the continued financial room that exists with the impending contracts for both Justin Jefferson and Christian Darrisaw.
Even if you weren't overly impressed with some of the offseason spending up to this point in 2023. The Vikings' plan appears to be heading in the direction of them spending a lot in the future in order to seriously contend for the Super Bowl. Minnesota should easily be able to fit contracts for their two young stars while still finding significant contributors via free agency, particularly if they discover their QB on a rookie contract. The Vikings will undoubtedly make an effort to compete in 2023. But their best chances of going far in the playoffs still lie ahead of them rather than behind them. That ought to be intriguing to think about.
