NFL Salary Cap for 2021 Season Reportedly $182.5M, Down from $198.2M in 2020

The salary cap for the 2021 NFL season has been set at $182.5 million, according to NFL Network's Ian Rapoport.

Per Spotrac, the cap is down from last year's number of $198.2 million and at its lowest point since 2018 when it was $177.2 million:

The final number for 2021 comes a few weeks after the NFL informed teams that the salary cap would be set at a minimum of $180 million.

Per NFL.com's Grant Gordon, the league's salary cap increased seven years in a row before this year's regression.

The downturn wasn't surprising since the COVID-19 pandemic resulted in NFL teams having limited or no attendance for games in 2020, which caused a drop in gate revenue.

Franchises have known for some time that the cap would be lower in 2021, and they have known for about a month that it would be in the neighborhood of $180 million. That gave them time to plot their strategies ahead of free agency, which opens March 17.

Despite the lower cap number, some big money has already been thrown around to keep players under contract.

According to CBS Sports, New Orleans Saints safety Marcus Williams, Denver Broncos safety Justin Simmons, New York Jets safety Marcus Maye, Carolina Panthers offensive tackle Taylor Moton, New York Giants defensive lineman Leonard Williams, Washington Football Team guard Brandon Scherff, Tampa Bay Buccaneers wide receiver Chris Godwin, Chicago Bears wide receiver Allen Robinson II and Jacksonville Jaguars offensive tackle Cam Robinson are all set to receive the franchise tag and will be among the highest-paid players in the NFL at their respective positions.

NFL Network's Tom Pelissero provided a rundown of what the aforementioned players' salaries will be in 2021 now that the cap has been set:

In addition to the franchise tags, the Dallas Cowboys signed quarterback Dak Prescott to a four-year, $160 million contract extension with $126 million guaranteed, and the Arizona Cardinals signed longtime Houston Texans defensive end J.J. Watt to a two-year, $31 million deal, with $23 million guaranteed.

Teams have not shied from spending, which could be good news for some of the biggest names set to hit the free-agent market.

Chief among them are Detroit Lions wide receiver Kenny Golladay, Tampa Bay Buccaneers pass-rusher Shaq Barrett, San Francisco 49ers offensive tackle Trent Williams, Pittsburgh Steelers pass-rusher Bud Dupree and Los Angeles Chargers tight end Hunter Henry.