How the 2023 NFL salary cap will help the Patriots
The NFL released their 2023 salary cap projection on Monday, estimated to be $224.8 million, a significant increase from last season. Because the Patriots were already in a prime position coming into the offseason with some of the most money to spend in free agency, the increase from what had been previously projected couldn’t have happened at a better time for New England.
The NFL informed teams today that the 2023 salary cap will be a record $224.8 million per club, sources tell me and @RapSheet.
— Tom Pelissero (@TomPelissero) January 30, 2023
That’s up from $208.2 million in 2022, $182.5M in 2021 (COVID adjustment), 198.2M in 2020 and $188.2M in 2019.
How much will Belichick have to spend exactly?
According to Patriots salary cap expert Miguel Benzan, New England will have just over $34 million to use in free agency this year.
My new projection for the Patriots 2023 salary cap space after we learned the official League Cap Number is $34,067,070.
— Miguel Benzan Patriots Cap Space is 12,198,438 (@patscap) January 30, 2023
The Patriots find themselves in a similar cap situation as the 2021 offseason when they spent a record-breaking $163 million in guaranteed money for the season. This time, however, they don’t have nearly the same amount to spend, but they have just as many holes to fill to become a competitive football team again.
The offense appears as the main focus in the offseason thus far, with the hiring of Bill O’Brien as the offensive coordinator and interviews continuing for a new offensive line coach. That will likely continue in free agency and the draft, especially on the offensive line and wide receiver room, which were two of the weaker areas on the team in 2022.
Bill Belichick will have some impactful decisions to make come free agency, with offensive talents Damien Harris and Jakobi Meyers set to test the market, especially with Meyers looking like the most valuable free agent receiver this year.
But there are also many other notable names on defense and special teams to hit free agency that could be vital to re-sign. With more money to spend now, it’s possible Belichick will retain more of these players than he may have previously. Additionally, it provides him more money to sign big-name talents, including trades, to help improve the team.