The NFL free agency period is always a fun and active time. As we approach mid-March when free agency opens, who is projected to have the most cap space? A team having a ton of cap space can be in good or bad situations.
If you’re the Chicago Bears, you have a bad roster, questions at quarterback, but have money to spend.
if you’re the Cincinnati Bengals, you have a great roster, a stellar quarterback, and still have money to spend. Some teams are more frugal in free agency while others aren’t afraid to make big moves. There isn’t a secret formula to free agency.
Just because a team spends a lot, does not mean they will see a better product on the field, and vise versa.
As we creep into the 2023 free agency period, which teams are projected to have the most cap space?
NFL free agency: Who has the most cap space in 23?
According to spotrac, these are the top 10 most cap rich teams for the 2023 offseason:
- Chicago Bears: $115,155,561
- Atlanta Falcons: $56,254,608
- New York Giants: $54,771,480
- Cincinnati Bengals: $49,435,819
- New England Patriots: $46,230,460
- Houston Texans: $41,715,134
- Seattle Seahawks: $34,580,071
- Baltimore Ravens: $32,861,209
- Las Vegas Raiders: $21,829,005
- Indianapolis Colts: $20,572,489
Of the top 10 most cap rich teams, four made the playoffs. The Giants, Bengals, Seahawks, and Ravens are all in great shape. They were able to finish with a winning record, make the postseason, and still have tons of money to spend to better their roster.
Teams like the Falcons, Patriots, and Raiders were some of the last teams eliminated from playoff contention in 2022. They all were somewhat close to making it, so their situations are actually rather healthy.
Fielding a near-playoff team and having money to spend could make for some free agency splashes to get them over the hump.
The Bears, Texans, and Colts are arguably the three worst teams in football and need just about everything.
Chicago should focus on putting better personnel around Justin Fields with their cap space. Houston has positions of need everywhere, starting with a franchise quarterback. Indianapolis totally cratered in 2022 and all of a sudden has questions along their offensive line and has nothing to show for with a quarterback solution.
The differences in teams in the top 10 of cap space for 2023 is quite something.