The NFL’s salary cap ceiling was expected to see a large increase this offseason, but estimates proved to be on the low side. A record-setting jump resulted in a cap of $255.4MM for teams to work with.
That has resulted in new waves of spending at a few positions, with quarterbacks and receivers seeing continued growth at the top of the market. Last offseason offered a strong chance of the league seeing at least one $40MM-plus cap charge, but the Browns avoided such a scenario with a Deshaun Watson restructure. Owing to that move – and the lack of further adjustments this spring – however, Watson’s financial impact is set to grow considerably this season.
Here are the league’s top cap charges on offense leading up to training camp:
- Deshaun Watson, QB (Browns): $63.77MM
- Dak Prescott, QB (Cowboys): $55.13MM
- Matthew Stafford, QB (Rams): $49.5MM
- Kyler Murray, QB (Cardinals): $49.12MM
- Daniel Jones, QB (Giants): $47.86MM
- Patrick Mahomes, QB (Chiefs): 37.01MM
- Lamar Jackson, QB (Ravens): $32.4MM
- Trent Williams, LT (49ers): $31.57MM
- Tyreek Hill, WR (Dolphins): $31.32MM
- Josh Allen, QB (Bills): $30.36MM
- Cooper Kupp, WR (Rams): $29.78MM
- Taylor Moton, RT (Panthers): $29.75MM
- Joe Burrow, QB (Bengals): $29.55MM
- Deebo Samuel, WR (49ers): $28.63MM
- Chris Godwin, WR (Buccaneers): $27.53MM
- Jared Goff, QB (Lions): $27.21MM
- Joe Thuney, LG (Chiefs): $26.97MM
- Geno Smith, QB (Seahawks): $26.4MM
- Laremy Tunsil, LT (Texans): $25.86MM
- Davante Adams, WR (Raiders): $25.35MM
- Quenton Nelson, LG (Colts): $25.2MM
- Kirk Cousins, QB (Falcons): $25MM
- Jawaan Taylor, RT (Chiefs): $24.73MM
- D.K. Metcalf, WR (Seahawks): $24.5MM
- Christian Kirk, WR (Jaguars): $24.24MM
Watson’s figure will shatter the NFL record for the largest single-season cap charge if no adjustments are made in the coming weeks. The hits for Prescott, Murray, Stafford and Jones also would have set a new benchmark if not for the Browns passer, a sign of the QB market’s continued upward trajectory. Cleveland is set to remain in a similar situation for the next three years as Watson plays out his fully guaranteed $230MM deal. 
Prescott’s future is one of several important questions the Cowboys need to answer relatively soon. With CeeDee Lamb and Micah Parsons due for second contracts, an extension for the three-time Pro Bowler will need to take into account future commitments. While Prescott has considerable leverage (via no-tag and no-trade clauses), he joins Jones in facing an uncertain post-2024 future in the NFC East.
The latter saw the Giants make an effort to trade up for a quarterback in April and he reacted in an understandable manner. Jones’ $40MM-per-year 2023 extension remains the dominant storyline surrounding the team, and a decision on retaining him or moving on will need to be made prior to a potential out early next offseason. Murray’s performance this fall will likewise be worth watching; he has received consistent praise from head coach Jonathan Gannon, but he will aim to put together a fully healthy season following 2023’s truncated campaign.
Stafford and the Rams have a mutual desire to continue their relationship, but he is seeking guarantees beyond the 2024 campaign. The 36-year-old’s representatives have been in discussion on a resolution during the offseason, although even in the absence of one a training camp holdout is not expected. The likes of Mahomes, Jackson and Allen retain a place in the top 25, and the same will no doubt be true of Burrow for years to come.
Of the receivers listed, only Hill is known to be actively pursuing a new deal. The 30-year-old once led the receiver market with a $30MM AAV, a figure inflated by non-guaranteed money at the end of the pact. With the bar having been raised to new heights this offseason, Hill could join teammate Jaylen Waddle in securing a new payday. Since the team has a Tua Tagovailoa extension on the horizon, however, Miami could hesitate on the Hill front.
It come as little surprise that Williams tops the list for offensive linemen. The 11-time Pro Bowler has been mentioned in retirement rumors before, but playing to age 40 is now a goal. Meeting it could require future contract adjustments. Samuel’s future in the Bay Area was a talking point this offseason as the team attempts to keep Brandon Aiyuk in the fold. One of the high-profile wideouts may be playing for a new team for the first time in their career in 2025.
Elsewhere along the O-line, Moton and Taylor demonstrate the value seen at the right tackle spot in recent years. Given the developments of the guard market this offseason, though, the likes of Thuney and Nelson will have competition for spots on the list in future years. Similarly, the non-Hill wideouts could easily be surpassed in the future with a further additions set to be made (particularly by Lamb, Aiyuk and Ja’Marr Chase) at the top of the ever-increasing market.
Goff joined the $50MM-per-year club on his third NFL deal, whereas Cousins continued to add to his impressive NFL earnings by joining the Falcons. If healthy, the latter could prove to be an effective pickup for a team aiming to return to the postseason (while quieting questions about a transition to Michael Penix Jr. under center). Smith also has plenty riding on this season with a new Seahawks coaching staff in place which incrementally arrived at the decision he will serve as the starter in 2024.