Only one game is left in the 2024 NFL season, and following the Super Bowl, the excitement of the offseason will start to rise.
Though the Detroit Lions are frustrated about not making it to the big game, they aim to achieve that for the first time in franchise history in 2025. Consequently, this offseason is crucial for general manager Brad Holmes and his team.
As February arrives, the Lions are reported to have approximately $46,684,933 in cap space and $44,021,652 in effective cap space, as per Over the Cap. Detroit stands ninth in the league for total cap space, while the New England Patriots top the list with more than $120 million expected to be available for new head coach Mike Vrabel.
The estimates are based on a salary cap projection of $272,500,000. That figure would represent a rise of $17.1 million compared to last year’s cap.
The formal salary cap will be revealed later this offseason primarily ahead of free agency, with the announcement for the 2024 season scheduled for February 23 of the previous year.
The salary cap for last season marked a $30 million rise compared to the previous year, surprising many in the league. The extent of the rise in financial resources available to teams throughout the league is unclear.
Detroit will need to manage the beginning of several significant contracts starting in 2025 when considering choices regarding free agency. At present, the team holds $252,067,830 in overall cap obligations for the forthcoming season.
Jared Goff has the team’s largest cap figure at $32.6 million, and Taylor Decker ranks second with a cap figure of $23.098 million. Wide receiver Amon-Ra St. Brown ranks fourth at $13.91, with all three players having signed extensions last offseason.
Center Frank Ragnow has the third-largest cap number at $14.05 million, while 2024 free agent acquisition DJ Reader completes the top five at $12.93 million.
The Lions possess considerable financial flexibility as they approach the offseason. Nonetheless, as extensions take effect in the upcoming two seasons, Holmes and the rest of the front office must be judicious regarding their free agency expenditures.