NFL free agency primer: Who are the top free agents, and which teams have the most and least cap space?
With only three games remaining in the NFL season, free agency is looming. In preparation for free agency, these are some of the most common questions about the process.
What are the key dates ahead of free agency?
On February 20, teams can begin designating players for the franchise or transition tag, which must be completed by March 5 at 4 p.m. ET. The franchise tag is a one-year tender equal to the average of the five highest salaries at the player’s position over the previous five seasons, or 120% of his previous salary, whichever is higher.
There are two sorts of franchise tags: non-exclusive and exclusive, with the former allowing players to negotiate with other teams and the latter prohibiting it. Both tags provide a player’s current team the option to match any offer or receive two first-round draft picks if he signs elsewhere.
The transition tag, on the other hand, is a one-year offer equal to the average of the top ten salaries in a player’s position, but the tagging team receives no compensation if the deal is not met.
When does free agency start?
Teams may begin negotiations with the agencies of players poised to become unrestricted free agents on March 11, but the free-agent period will officially begin on March 13 at 4 p.m. ET. Every squad must
Once the new league year begins, expect to see several players cut before March 17, which is the deadline for 2024 contracts to become completely guaranteed. Russell Wilson, the Broncos’ quarterback, will most likely be among those cut during this period.
Who are the top free agents?
According to Pro Football Focus’ rankings, the top five upcoming free agents are Chiefs DT Chris Jones, Vikings QB Kirk Cousins, Jaguars edge-rusher Josh Allen, Bengals WR Tee Higgins, and Panthers edge-rusher Brian Burns. The most significant prospective free agents who failed to enter PFF’s top five are Ravens breakout star DT Justin Madubuike, Buccaneers WR Mike Evans, and safety Antoine Winfield Jr., both All-Pros.
Assuming Jones doesn’t play under the
Which teams have the greatest projected cap space?
At this point, cap space will be flexible as teams decide to cut and sign players or restructure their contracts. Nonetheless, the five clubs expected by OverTheCap to have the greatest cap room this offseason are the Washington Commanders ($73.6 million), Tennessee Titans ($71.9 million), Houston Texans ($69.9 million), New England Patriots ($66.1 million), and Indianapolis Colts ($62.8 million).
Which team has the smallest anticipated cap space?
The New Orleans Saints, who had the league’s oldest squad this season, are expected to be $83.7 million above the salary cap, roughly $32 million more than the next closest team (the Miami Dolphins). As a club that did not capture probably the NFL’s easiest division title, expect New Orleans to
Are there any teams in particular to keep an eye on during free agency?
Washington Commanders, New England Patriots, and Houston Texans.
Washington is approaching its first full offseason under Josh Harris’ ownership and should make many moves in free agency and the 2024 NFL Draft. It will be interesting to see how Washington uses the most cap room in the NFL, but there should be some clarity about potential targets after the team picks a head coach. Regardless, the 2024 Commanders should appear very different than the club we saw this season.
The Brady-Belichick era in incoming England has officially ended, and incoming head coach Jerod Mayo told WEEI on Monday that the Patriots are “ready to burn some cash” this offseason.
Houston may be the most exciting team to watch, as it has the potential to become a marquee free-agent destination after an impressive rookie season from quarterback C.J. Stroud. Stroud will be on his rookie contract for four more seasons, and because he has already demonstrated his ability to win postseason games, Houston should splurge to surround him with talent while he is still available at a reasonable price.
