NFL's 2023 salary cap to reportedly be $224.8M

As the NFL and its players make more money, the salary cap continues to go up and up. That will reportedly be the case in 2023 as well.

ESPN is confirming a report that the NFL's salary cap is going to increase by $16.6 million, meaning that the new salary cap will be $224.8 million.

This is good news for teams like the New Orleans Saints and Tampa Bay Buccaneers, who currently find themselves in the red. The Saints are currently $58.5 million over the cap while Tampa Bay checks in at $55 million in the red, per overthecap.com

It's also good news for teams that feel they may be a player or two away from making a run. More cap space means more room to add talent. The New York Giants, a playoff team in 2022, has $44.7 million in cap space and could be just a few free agents away from being dangerous again. They also have Saquon Barkley and Daniel Jones both hitting free agency themselves, so the more room the better for New York.

The Chicago Bears are also in a very interesting spot thanks to their $91.8 million in cap space. The Bears also hold the No. 1 pick in the 2023 NFL Draft. Perhaps they're not a "player or two away" coming off a 3-14 season in Matt Eberflus' first season as head coach, but they certainly have the wiggle room and draft capital to jump-start their rebuild.

The new league year for 2023 will start on March 15 at 4 p.m. est.