The Vikings’ Cap Space Just Took a Huge Step Forward

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Good news: the Vikings’ cap space is looking a lot more robust.

Per the NFL’s website, the salary cap will be taking a huge step forward: “The NFL salary cap has taken a historic leap for the 2024 season. The league announced on Friday that the salary cap will be $255.4 million per club in 2024. The figure marks an unprecedented $30-plus million rise over last season’s cap, which totaled $224.8 million.”

Instead of the projected $24-$25 million, the Vikings now have roughly $36 million to work with going into free agency.

Vikings Cap Space Just Took a Huge Step Forward

Seeing Minnesota navigate a snug budget has become a bit of a yearly tradition.

Rick Spielman wasn’t perfect, but he deserved credit for his willingness to be aggressive in pursuit of success with the Vikings. The downside to that approach is that the team’s finances were often pretty lean going into the offseason.

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Kwesi Adofo-Mensah has been hard at work trying to get the budget back in order during recent seasons. In fact, the new GM spoke positively about regaining financial freedom at his end-of-season press conference. One has to assume that Adofo-Mensah will be pleased with this news.

Not too long ago, Mike Florio of Pro Football Talk prophesied about the cap getting a major boost.

“For now, multiple sources have indicated that the teams expect the 2024 cap to be in the neighborhood of $242 million and $243 million,” Florio wrote on February 19th. “Another source, in response to that number, had this reaction: ‘More.’”

Give Florio credit.

Justin Jefferson has long been in the headlines for his extension, or lack thereof. Does the increased cap space make a new deal more likely? One would think so. The WR1 deserves a huge deal, so the update about Minnesota’s cap space growing by a considerable amount should help nudge the possibility into becoming a reality.

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And then, of course, there’s Kirk Cousins and Danielle Hunter. Unlike Jefferson, the QB and EDGE are moving toward free agency unless a new deal gets done. Having more room in the budget will only help in the quest to keep both in The Gopher State.

And then there’s free agency. In fairness, the budgetary benefit is tempered by the simple fact that the rest of the league is experiencing the same financial windfall. Every team, not just the Vikings, is seeing an increase in cap space. Adofo-Mensah, though, will still be encouraged about what’s possible.

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With a roster that has needs aplenty, the Vikings will welcome any and all increases in cap room. Cuts, extensions, and restructures will still happen, but there does feel like there’s a bit less urgency now that the Vikings are sitting on close to $38 million in open room.

Free agency gets going on March 11th with the legal tampering period.

But, to be sure, the top priority in Minnesota rests in retaining Mr. Jefferson. Extending the receiving phenom before then onboarding top-tier external talent would be welcome news for Minnesotans from Warroad to Preston.

Editor’s Note: Information from Over the Cap helped with this piece.

K. Joudry is the Senior Editor for Vikings Territory and PurplePTSD. He has been covering the Vikings full time since the summer of 2021. He can be found on Twitter and as a co-host for Notes from the North, a humble Vikings podcast.