NFL Teams' Updated Salary Cap for 2024 Free Agency After Franchise Tag Deadline

The NFL is officially turning the page to free agency after the deadline to place the franchise tag on players passed on Tuesday afternoon.

NFL free agency will open on March 13 at 4 p.m. ET, with the legal tampering period beginning on March 11 at noon ET. After the 2024 salary cap was unexpectedly raised to $255.4 million, multiple teams are in a position to do some serious spending.

Here's a look at where things stand for each team in terms of available cap space, per Over The Cap:

1. Washington Commanders, $91.5 million
2. New England Patriots, $88.7 million
3. Tennessee Titans, $75.8 million
4. Houston Texans, $70 million
5. Arizona Cardinals, $56.8 million
6. Chicago Bears, $56.4 million
7. Detroit Lions, $51.4 million
8. Indianapolis Colts, $49.3 million
9. Cincinnati Bengals, $48.5 million
10. Seattle Seahawks, $42.4 million
11. Las Vegas Raiders, $42 million
12. Philadelphia Eagles, $41.9 million
13. Los Angeles Rams, $40.8 million
14. New York Giants, $38.2 million
15. Atlanta Falcons, $37.4 million
16. Minnesota Vikings, $37.1 million
17. Jacksonville Jaguars, $29.2 million
18. Tampa Bay Buccaneers, $20.9 million
19. New York Jets, $20.7 million
20. Green Bay Packers, $13.6 million
21. Carolina Panthers, $11.9 million
22. Pittsburgh Steelers, $7.9 million
23. Cleveland Browns, $6.7 million
24. Kansas City Chiefs, $3.4 million
25. San Francisco 49ers, -$285K
26. Baltimore Ravens, -$9.5 million
27. Dallas Cowboys, -$10.6 million
28. Denver Broncos, -$16.3 million
29. New Orleans Saints, -$17.1 million
30. Los Angeles Chargers, -$25.6 million
31. Miami Dolphins, -$31.6 million
32. Buffalo Bills, -$40.6 million

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Only nine teams used their franchise tag this year, and the Washington Commanders are in the driver's seat to have a monumental offseason.

In addition to their league-high $91.5 million in cap space, the Commanders own the No. 2 pick in the 2024 draft. They are expected to take one of the top three quarterback prospects out of USC's Caleb Williams, LSU's Jayden Daniels and North Carolina's Drake Maye. With so much cap space at their disposal, the Commanders could add some key pieces that will make life substantially easier for their rookie signal-caller.

Washington's 2023 starter Sam Howell was sacked a league-high 65 times last season, so the team will surely be looking to invest in its offensive line. The Commanders also ranked last in total defense with 388.9 yards allowed per game, so big changes are needed on that side of the ball as well. New head coach Dan Quinn will undoubtedly appreciate an influx of talent as he brings his defensive mindset to the franchise.

Interestingly, the Houston Texans are the only team ranked in the top five in available cap space that made the playoffs in 2023. With the Offensive Rookie of the Year C.J. Stroud and Defensive Rookie of the Year Will Anderson Jr. on its roster, Houston is an attractive landing spot this offseason.

Also, teams like the Buffalo Bills and Miami Dolphins have a ton of work to do to get out of the red. Some tough decisions will have to be made, which could result in some unexpected names hitting the open market.

Teams will have a few days to get their ducks in a row for their free-agent pursuits. This offseason can significantly change the landscape of the NFL.