Depending on who is running the team and making the roster decisions, the New England Patriots may be able to use a ton of financial resources to spark a much-needed rebuild. To say that the team needs an influx of talent, especially on offense, would be a huge understatement. The roster is missing that spark, and a 2-5 record has all but ended their 2023 season.
The issues with the team can be blamed on Bill Belichick, who is the head coach and roster-builder. I thnk it's best for both sides to part ways at the end of the year barring a historic turnaround, but with recent reports that Belichick signed an extension before the season began, no one really knows what is going to happen.
One thing is for sure, though, and that's the amount of cap space that the team has going into the 2024 NFL season. Not only do they have enough to retain some of their in-house guys if they chose to, but they also have enough to go out and sign a few big-name free agents to help spark a much-needed rebuild.
The team could chase a stud WR free agent like Tee Higgins, for example. They could also throw a bag at Dalton Schultz, a very talented tight end who is currently slated to be a free agent next year. Well, just how much cap space are the Patriots projected to have? According to overthecap.com, the team is projected to have a whopping $79.3 million in effective cap space, which is the true amount the team would have at their disposal.
The 2024 NFL salary cap is going to be at $256 million, which will be up from the $224.8 million right now, in 2023. This would give the Patriots and a potential new general manager a ton of financial resources to use, and only 43 players signed into next year.
For a team that needs to rebuild, this would be a sensational start. Couple the positive financial outlook with a likely top-10 pick in the 2024 NFL Draft, and a potential GM opening in New England would look very, very appetizing.
This is precisely what this franchise needs, and the team could also create more in cap if they wanted to. Next offseason, they could cut players like Deatrich Wise, David Andrews, Lawrence Guy, and Adrian Phillips and save millions more on the cap. I'm not necessarily advocating for cutting those specific players, but merely giving an example of the team being able to create even more.
And as of now, their highest cap hit in 2024 is projected to be just $15.4 million, which would belong to Matthew Judon. Financially, Judon seems to be all but guaranteed to be on the roster in 2024, which is fine. He's a very good player and plays an extremely valuable position. Gang, I cannot stress this enough; the New England Patriots should be in a very advantageous situation next offseason with their financials.
This would be a lovely and welcome sight for a team that needs to heavily prioritize the offensive side of the ball if they plan on being contenders once again.