As the start of June approaches, several NFL teams are looking to add cap space, and even during the NFL offseason hiatus, there’s movement to be made.
In 2024, about a third of NFL teams have released players with a post-June 1 designation, meaning that players were released in March but the salary cap impact was delayed until June 2. Until June 1, players keep their existing cap numbers.
Earlier this offseason, 13 NFL players were released after June 1, meaning the bulk of their salary cap exposure will shift to 2025.
The biggest names on the 2024 list have the largest dead cap hits in NFL history. Denver Broncos Denver took on $85 million in dead cap space to waive Russell Wilson in the offseason, but because his 2024 cap hit is $35.4 million and the dead cap hit in the first year of his contract is also $35.4 million, they won’t gain any cap space on June 2. The benefit of the move is that they can spread the remaining $49.6 million in dead money over the second year of his contract in 2025.
Here’s how all designations from June 1 onwards and the dead cap will be calculated for the next two years.
- Arizona CardinalsDJ Humphries ($6.9 million in 2024 and $6.9 million in 2025)
- Baltimore Ravens: Odell Beckham Jr. (Deferred $2.8 million in 2024 and $8.3 million in 2025)
- Buffalo Bills: Tre’Davious White ($6.2 million in 2024, $4.1 million in 2025)
- Dallas CowboysMichael Gallup ($4.35 million to 2024, $8.7 million to 2025)
- Denver Broncos: Russell Wilson ($35.4 million in 2024, $49.6 million in 2025)
- Detroit LionsCameron Sutton ($2.2 million in 2024 and $6.5 million in 2025)
- Green Bay PackersDevondre Campbell ($3.6 million in 2024, $8 million in 2025)
- Las Vegas RaidersJimmy Garoppolo ($4.3 million in 2024 and $12.8 million in 2025)
- Miami Dolphins: Xavien Howard (transfers $7.4 million in 2024 and $15.7 million in 2025)
- New Orleans Saints: Michael Thomas ($11.2 million in 2024 and $9.2 million in 2025)
- New Orleans Saints: Jameis Winston (transfer $3.4 million in 2024, $7.4 million in 2025)
- San Francisco 49ersArik Armstead ($10.6 million in 2024 and $14.8 million in 2025)
- Tampa Bay BuccaneersShaq Barrett ($12.3 million in 2024 and $17.4 million in 2025)
The second number is do not have How much cap space will there be? Created It will be paid to teams on June 2. Rather, it’s simply about how unspent money is transferred into the future.
For example, Shaq Barrett was due to accrue $11.2 million in Tampa’s cap hit in 2024, and that amount has remained unchanged since the start of the league year. His cap charge actually rises to $12.3 million on June 2. If he hadn’t used the post-June 1 designation, his total dead cap hit would have risen to $26.7 million.
Here is the amount of 2024 cap space created as of June 2nd from the above transactions:
- Arizona Cardinals: DJ Humphries ($16 million)
- Baltimore Ravens: Odell Beckham Jr. ($1.2 million)
- Buffalo Bills: Tre’Davious White ($10.2 million)
- Dallas Cowboys: Michael Gallup ($9.5 million)
- Denver Broncos: Russell Wilson ($0)
- Detroit Lions: Cameron Sutton ($10.5 million)
- Green Bay Packers: Devondre Campbell ($10.6 million)
- Las Vegas Raiders: Jimmy Garoppolo ($24 million)
- Miami Dolphins: Xavien Howard ($18.5 million)
- New Orleans Saints: Michael Thomas ($1.2 million)
- New Orleans Saints: Jameis Winston ($1.2 million)
- San Francisco 49ers: Arik Armstead ($17.8 million)
- Tampa Bay Buccaneers: Shaq Barrett (-$1.2 million)
There are several free agents sitting on the sidelines waiting to see where they will get the best chance to play in 2024. Now that the major free agents have signed and the NFL Draft is over, we will know which rosters really need them. Some may still be waiting for training camp injuries to open up, but now is the time for many of them to come to terms as the team does not have any more cap space to use the rest of the offseason.
