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The NFL has officially set the 2021 salary cap at $182.5 million today, according to NFL Network’s Ian Rapoport.
Teams are now being informed: The cap is $182.5M.
— Ian Rapoport (@RapSheet) March 10, 2021
As expected, it’s pretty close to the lowest possible number as communicated a few weeks ago, $180M. These numbers were set so low due to the economic decline caused by the coronavirus pandemic.
For the Jacksonville Jaguars, this means that their adjusted salary cap space is $73,821,714, which includes rollover from 2020, dead money, and other adjustments, according to OverTheCap.com.
This cap number also includes the franchise tag tender for left tackle Cam Robinson, officially set at $13.754M.
Final franchise tags values based on the $182.5 million salary cap: pic.twitter.com/xw1Ch1lKf0
— Tom Pelissero (@TomPelissero) March 10, 2021
That is a lot of room to play with in free agency this year. I’m sure Urban Meyer is excited.
This doesn’t mean a whole lot for us — this team was always going to be the leader in salary cap space coming into the offseason.
But it puts teams like the New Orleans Saints, Los Angeles Rams, Philadelphia Eagles, and Kansas City Chiefs in a bit of a pinch. All of those teams are more than $20 million over the salary cap (the Saints are more than $50 million over!) and will need to restructure contracts and make cuts quickly this weekend.