Free agency has begun
The Salary Cap is based on a complex formula that divides the league’s revenues into a percentage that is roughly equal to 48 percent of player costs, which consist of benefits and salaries.
When we analyse the so-called salary cap, we are mainly referring to the player salary element. For instance, a couple of years ago the salary cap was set at $198.2M while the Total Player Cost was $242.9M.
This means that the player benefits amount was the $44.7M that separated those figures. In addition to their wages, players may also receive pension benefits, health insurance, disability insurance, financial aid for college, and other benefits.
Exceeding the salary cap is not an option for NFL teams. As a new league year begins, all clubs must be under the cap. However, several mechanisms can be employed by franchises in their bid to move funds into the future and make more room in the present salary cap.
A way to achieve that is to prorate signing bonuses over the life of a player’s contract or five years -whichever is shorter. Club also tend to restructure players’ contracts in their bid to create more space in their salary caps.
The bonus is a specific figure offered to the player in exchange for them signing a new deal or renewing their existing contract to continue playing for the team.
This year, the 2023 NFL free agency period began on March 15, which was the first day of the new league year. NFL franchises will be looking to make changes to correct the problems of the past year ahead of the next campaign.
The legal tampering period started on March 13 and allowed teams to begin negotiating with the agents of various players 48 hours prior to the official start of free agency.
© Unidad Editorial Información Deportiva, S.L.U. All rights reserved.

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