The NFL informed teams on Friday the cap number for 2024 is set at $255.4 million, which is a $30.6 million increase from the 2023 season.
With that, the Bears have the third-most cap space in the league with about $83 million in cap space, according to Spotrac. After allocating the projected dollars for draft picks in the 2024 NFL draft, that number sits at about $68.3 million.
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That gives Ryan Poles and the front office plenty of flexibility for the offseason. Last season, they had close to $100 million in cap space, which led the NFL. Still, they remain at the top after a spending spree in 2023 and signing Montez Sweat to a $100 million extension.
Before the NFL's cap space announcement, the Bears freed up some space on their own by cutting Cody Whitehair and Eddie Jackson. Cap space was the motivation behind this move, as both veterans are aging with significant contract numbers left on their respective deals.
According to Spotrac, the Bears saved themselves $21.7 million in cap space by cutting Whitehair and Jackson. Whitehair's previous contract with the Bears earned him north of $10 million annually; Jackson's contract gave him just over $14 million per season.
At this juncture, the Bears trail only to the Washington Commanders ($96.4 million), New England Patriots ($86 million) and Tennessee Titans ($85.2 million) in cap space.
