2024 NFL Free Agency: Bargain Options for the 10 Teams in the Worst Salary-Cap Shape
The 2024 NFL Scouting Combine may be the next big event on the league calendar, but free agency isn't far behind it.
Across the league, teams will spend the next several weeks trying to create as much cap space as possible—cash that can then be spent to add big-name veterans who could be the missing piece for those teams.
The likes of the Washington Commanders, Tennessee Titans and Chicago Bears already have sizable war chests, with over $200 million between them. For some other teams, though, there's a problem: There is no money.
As things stand, 11 teams are over the projected cap for 2024. Three are $50 million over.
Those teams will make it into the black somehow. There will be restructures galore, some veterans will be shown the door, and cap space will be created. Those clubs will add a player or three, even if they have to be more frugal in their decisions.
Here are some suggestions in that regard for the most cap-strapped teams in the NFL.
Salary cap data courtesy of Over the Cap.
New Orleans Saints
1 of 10
Cap Space: -$83.7 million
The New Orleans Saints have been playing kick the can with the salary cap for several years, and the result is the worst cap situation in the entire NFL.
It's going to take quite a bit of wheeling and dealing (and some restructures and cuts) for general manager Mickey Loomis to even get the team under the 2024 cap.
Once he does, most of the Saints' free-agent shopping will have to come from the bargain bin.
Edge Yannick Ngakoue
After possibly the worst season of his career, veteran edge-rusher Cameron Jordan's contract is, arguably, the worst on the team, although New Orleans is effectively stuck with him in 2024.
Yannick Ngakoue's streak of eight-sack seasons was snapped last year in Chicago, but the 28-year-old has mostly been a consistently productive pass-rusher with 69 career sacks.
WR Donovan Peoples-Jones
Oft-injured wide receiver Michael Thomas has an onerous contract of his own, but after just 20 games played since 2020, the Saints have to do something at the position.
Donovan Peoples-Jones has hardly been a world-beater in Cleveland and Detroit, but he's about to turn 25 years old and has demonstrated at least some ability to function as a complementary wide receiver.
LB Drue Tranquill
Demario Davis is a 35-year-old free agent who may well have played his last down in the Big Easy.
Drue Tranquill didn't play a lot last season in his first year with the Kansas City Chiefs, but as a full-time starter for the Los Angeles Chargers in 2022, he piled up 146 total tackles. Now that he has a ring, The 28-year-old could welcome the opportunity to start again.
Miami Dolphins
2 of 10
Cap Space: -$51.9 million
That the Dolphins are well over $50 million in the red before even considering an extension for quarterback Tua Tagovailoa shows the work general manager Chris Grier has to do in 2024.
That work is exacerbated by the fact that Miami has multiple interior offensive linemen set to hit free agency and veteran offensive tackle Terron Armstead is considering retirement after an injury-marred 2023 campaign.
OT Donovan Smith
Smith spent 2023 playing on a one-year, $3 million contract with the Kansas City Chiefs. If Armstead does decide to hang them up this offseason, taking a run at the 30-year-old might be Miami's best chance at landing an experienced NFL starter who is at least an adequate left tackle.
Demand for his services could be robust, though. Reasonably priced tackles don't grow on trees.
OC Pat Elflein
Elflein has had all kinds of injury issues in recent years: He missed the entire 2023 season with the Arizona Cardinals and sat out 18 games over his two seasons with the Carolina Panthers.
However, he is still just 29 years old and, when healthy, he has shown he can be a capable starter. His injury history should drive his price down in free agency.
TE Albert Okwuegbunam
The Dolphins may have had one of the most explosive offenses in the NFL last year, but the tight end position was a glaring area of weakness.
No one is going to confuse Okwuegbunam with Travis Kelce any time soon, but the 25-year-old has shown the ability to be a weapon in the passing game. The four-year veteran isn't going to carry a high asking price, either.
Buffalo Bills
3 of 10
Cap Space: -$51.3 million
When you have one of the highest-paid quarterbacks in the NFL on the roster and a wide receiver who makes an average annual salary of $24 million, it's going to create problems getting under the cap.
That's the dilemma facing Buffalo Bills general manager Brandon Beane as he tries to keep the team hot on the heels of the Kansas City Chiefs in the AFC.
S Jonathan Owens
Micah Hyde is a 33-year-old free agent, and while he and Jordan Poyer have prowled the back of the Buffalo defense for years, it may be time for a change.
Owens racked up 125 total tackles two years ago with the Houston Texans, and he played relatively well after working his way into the starting lineup late in the season last year in Green Bay.
Edge Dante Fowler Jr.
Von Miller signed a six-year, $120 million contract with the Bills in 2022, but he's yet to live up to that deal and could be a candidate for a restructure or even outright release.
Fowler isn't the player who amassed 11.5 sacks with the Rams in 2019, but he's still a decent complementary edge-rusher who shouldn't cost the Bills a lot to sign.
CB Shaquill Griffin
Dane Jackson is a free agent, so the Bills may be left with holes to fill at both cornerback and safety this offseason.
Griffin hasn't been able to duplicate the form that saw him earn Pro Bowl honors in 2019, but he's an experienced cornerback with 79 career starts who might be amenable to a bit less money if it means the chance to make a real run at a ring.
Los Angeles Chargers
4 of 10
Cap Space: -$45.8 million
It's the dawn of a new age in Los Angeles. There's a new head coach in Jim Harbaugh and a new general manager in Joe Hortiz. They have inherited a roster that isn't short on talent, but thanks in no small part to the huge contract quarterback Justin Herbert just got, the Bolts are also more than $45 million in the red against the cap.
CB Isaac Yiadom
It's possible the Chargers could use the fifth overall pick in the 2024 draft to select their choice of this year's top cover men. But they don't just need quality at the back end of the defense, they need quantity too.
Los Angeles was an abysmal 30th in the league last year against the pass, allowing an average of just under 250 yards per game.
DT Johnathan Hankins
Hankins isn't an elite talent and also the wrong side of 30. But he's a capable veteran starter who can stuff the run and provide some pop to the Chargers' pass rush.
The middle of the defensive line in Los Angeles was a weakness in 2023, and the 31-year-old could help fortify it without costing the team a big chunk of cash.
RB D'Ernest Johnson
The odds that Austin Ekeler has played his last game in Los Angeles after a disappointing 2023 campaign are...substantial.
The wise move here would be to pair a low-cost veteran with a Day 2 rookie. Johnson showed in Cleveland that he can at least be part of a committee attack, and he might even be able to lead a backfield if that rookie back is slow to acclimate to the NFL.
Denver Broncos
5 of 10
Cap Space: -$24.1 million
The financial situation with the Denver Broncos is already bad, and it could get a lot worse. If the team does move on from veteran quarterback Russell Wilson, the dead cap hit will be staggering.
While teams such as the Washington Commanders will be shopping for free agents at Macy's, the Broncos will be perusing the aisles at Dollar General.
Edge Alvin Dupree
Dupree's lone year with the Atlanta Falcons was something of a disappointment, but he did quietly finish the season with six sacks.
The Broncos have some young talent on the edge in the form of Jonathan Cooper and Baron Browning, but the 31-year-old would add depth and experience to a unit lacking in both.
DT Shelby Harris
Who says you can't go home again? Harris had the two best seasons of his career in Denver, including a six-sack campaign in 2019 and 2021.
The 32-year-old hasn't been able to duplicate that success in Seattle or Cleveland, so a one-year "prove it" deal could be advantageous for both the Broncos and the nine-year veteran.
S K'Von Wallace
Kareem Jackson is an aging free agent coming off a 2023 season in which he earned multiple suspensions for illegal hits.
Wallace split time last year between the Arizona Cardinals and Tennessee Titans, but he made 12 starts and showed flashes here and there. He could be an adequate and reasonably priced replacement for Jackson on the back end.
Dallas Cowboys
6 of 10
Cap Space: -$19.7 million
There are certain annual rites of passage in the NFL, one of which is the Dallas Cowboys being in precarious shape relative to the salary cap.
However, with the Cowboys perennially in win-now mode, it's a safe bet they will be among the most aggressive teams at trying to maneuver their way into a bit more wiggle room.
OT Chris Hubbard
Even if Dallas retains veteran Tyron Smith, he's a 33-year-old who has struggled to stay on the field in recent years.
Hubbard is no spring chicken himself, but Dallas doesn't want the 32-year-old to start 12 games. However, injuries up front were an issue for the Cowboys last season, and he is an experienced player capable of filling in at both tackle spots.
WR Laviska Shenault Jr.
The Cowboys can shave $9.5 million off the cap by releasing wide receiver Michael Gallup with a post-June 1 designation.
With CeeDee Lamb and Brandin Cooks on the roster, they don't need a high-end talent at the second perimeter spot, and it would be interesting to see what a change of scenery could do for Shenault's disappointing career.
OG Matt Pryor
Pryor played sparingly last year in San Francisco, but he was effective on the rare occasions he did see the field. The 6'7", 322-pounder has made 24 career starts over five seasons spent with three teams, and he's capable of playing both guard and tackle.
As already mentioned, the Cowboys need depth up front—depth that won't cost a lot.
Cleveland Browns
7 of 10
Cap Space: -$19.6 million
When you hand a quarterback a fully guaranteed $230 million contract and have three other players with cap hits of over $20 million, it's no surprise to be in the red.
That's where the Cleveland Browns find themselves, although the contracts of players like Deshaun Watson and cornerback Denzel Ward will all but certainly be restructured in the weeks to come.
Edge Trevis Gipson
In a perfect world, the Browns will figure out a way to bring back impending free agent Za'Darius Smith opposite Myles Garrett.
However, Gipson is only 26 years old, likely won't cost nearly as much per season as Smith and has shown flashes in the past, including seven sacks in less than 500 snaps in 2021.
DT Quinton Jefferson
The Browns also have multiple interior linemen about to hit free agency, including Shelby Harris, Maurice Hurst and Jordan Elliott.
Jefferson is the wrong side of 30, but he also set new career highs in total tackles (34) and sacks (6) last year with the Jets. He's a solid run-stuffer with the ability to occasionally collapse the pocket.
OT/OG Isaiah Wynn
Wynn is never going to be the difference-maker the Patriots thought he'd be when they drafted him 23rd overall in 2018. But, in almost 400 snaps with the Miami Dolphins last year, he didn't allow a single sack, and he can play guard and tackle.
After watching their offensive line get hit hard by injuries in 2023, the Browns need improved depth up front.
Pittsburgh Steelers
8 of 10
Cap Space: -$13.9 million
There are teams that are much farther over the salary cap than the Pittsburgh Steelers, but many of those teams have something Pittsburgh does not—a long-term solution at quarterback. It puts the Steelers in something of a bind—even if they do clear enough room for a signal-caller, there isn't going to much left for other positions.
QB Ryan Tannehill
There has already been speculation that the Steelers have interest in adding Tannehill as veteran competition for Kenny Pickett this year.
"Low-cost" is a relative term when discussing the QB position, but Pittsburgh has to do something. And if the Steelers want a relatively proven option, Tannehill may well be the most cost-effective of the lot.
LB Denzel Perryman
The Steelers linebackers were savaged by injuries last season, but the team doesn't have the resources to chase big names at the position, especially if they add a veteran quarterback.
Perryman isn't the player he once was, but the 31-year-old remains an excellent run defender who is at least capable in coverage.
CB Dane Jackson
The selection of Joey Porter Jr. in the 2023 NFL draft appears to have been a home run pick by Steelers general manager Omar Khan. But Pittsburgh's other corners are as much liabilities as assets, and Porter needs help in the secondary.
Jackson isn't an All-Pro, but he has started 20 games over the past two seasons in Buffalo.
San Francisco 49ers
9 of 10
Cap Space: -$11.9 million
The sting of their overtime loss to the Kansas City Chiefs no doubt remains fresh, but the Niners have one thing going for them relative to the cap: It's still one more year before the team has to worry about an extension for quarterback Brock Purdy.
However, a big payday looms for wide receiver Brandon Aiyuk, and five players on the 49ers roster carry a 2024 cap number north of $20 million.
The window is open, but there's work to be done.
LB Cody Barton
The Niners have one of the best linebacker duos in the league in Fred Warner and Dre Greenlaw, but the latter's torn Achilles puts his availability for the beginning of the 2024 season very much in doubt.
Barton amassed 120 tackles each of the last two years and should be available for a reasonable amount after making $3.5 million in 2023.
CB Fabian Moreau
Moreau isn't a Pro Bowl talent, but the six-year veteran posted his lowest passer rating against since 2020 a year ago. He's the kind of secondary help the 49ers need after faltering defensively down the stretch: experienced and inexpensive.
It would be something of an upset if the 49ers don't add at least one veteran corner.
S DeShon Elliott
The Niners have potential injury issues at safety as well. Talanoa Hufanga tore his ACL during the season and rookie Ji'Ayir Brown was hurt during Super Bowl LVIII.
Elliott can play both safety spots and has surpassed 80 tackles in each of the past two seasons. Plus, the Dolphins are already on this list and may not be able to afford to retain the 26-year-old.
Seattle Seahawks
10 of 10
Cap Space: -$5.2 million
Compared to some of the teams on this list, the Seahawks aren't in especially bad shape relative to the salary cap.
They have already guaranteed $12.7 million of quarterback Geno Smith's salary for 2024, with another $9.6 million becoming guaranteed on March 17.
But clearing enough space to sign the rookie class and add a few reasonably priced veterans shouldn't be all that difficult.
LB Azeez Al-Shaair
The Seahawks have a dilemma at linebacker this year, with Bobby Wagner and Jordyn Brooks both slated to hit the open market. Keeping one might be doable, but retaining both could be problematic.
Al-Shaair could be a less-expensive alternative after he shattered his career high in tackles last year with 163 for the Tennessee Titans.
QB Gardner Minshew
Despite the Seahawks guaranteeing that chunk of Smith's salary, there continue to be rumblings that his future in Seattle isn't certain. Even if he does stay, backup Drew Lock is a free agent this year.
Minshew is one of the NFL's better backup quarterbacks and just kept the Colts in the AFC South hunt after Anthony Richardson got hurt.
Edge K'Lavon Chaisson
Chaisson's first four years in Jacksonville were nothing to write home about, with five sacks in four seasons. But there's talent there, and while the Seahawks got something of a breakout season from Boye Mafe in 2023, the team needs depth on the edge.
Someone is going to roll the dice that Chaisson just needs a change of scenery. Seattle would be a good fit.
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