• Texans already have a solid foundation in place: Houston also has nearly $60 million in cap space, so the team is in a great position to take a step forward in 2024.
• Despite Joe Burrow's contract, Bengals have money to spend: Contract extensions loom for big-time players, but Cincinnati has space to work with this offseason.
• Everything you need to know about the 2024 free agency class: Click here for PFF's full 2024 NFL free agent rankings, which provide the most complete picture for each player, closer to a pro scouting report than ever before, with the best data in football putting us over the edge.
Estimated Reading Time: 4 minutes
The season is over for 30 of the 32 NFL teams, which means most are already looking ahead to the offseason. While the 2024 NFL Draft is the highlight of the spring for many, free agency is first up.
Using salary cap data from Over the Cap, we’re looking at which teams are best set up to position themselves for a big step forward in 2024 and beyond.
1. Houston Texans ($57.4M in cap space)
The Texans rank sixth in salary cap space heading into the offseason, per Over the Cap, but what elevates them to first on this list is their current foundation. The team is already set up well for success over the next few years, led by quarterback C.J. Stroud, who ranked 13th in the NFL with an 83.1 PFF grade this past season.
With Stroud only one year into his rookie deal, the Texans have a couple of offseasons before they need to worry about an expensive quarterback contract. They can be aggressive and pursue a dominant interior defender, such as the Kansas City Chiefs‘ Chris Jones or the Baltimore Ravens’ Justin Madubuike, to pair with standout edge defender Will Anderson Jr.
2. Washington Commanders ($73.6M in cap space)
With the second overall pick in the 2024 NFL Draft, the Commanders are in position to land either quarterback Caleb Williams or quarterback Drake Maye. That means they won’t have to spend big at the position for several years and can their resources to build a team around a new signal-caller.
Washington could look to make a splash in free agency by targeting a player like Danielle Hunter at edge defender, having traded away both Montez Sweat and Chase Young at the trade deadline this past season. It also gives them room to try to retain cornerback Kendall Fuller, the 15th-ranked player on PFF’s free agency rankings.
3. Tennessee Titans ($68.1M in cap space)
Will Levis appears entrenched as the Titans' starting quarterback in 2024, and while it will be on him to establish himself as the franchise quarterback next season, it does mean that the team can use cap space to build around him, particularly on the offensive line.
After fielding one of the worst offensive lines in the NFL in 2023, the Titans have the resources to make multiple additions to the unit. Guard Kevin Dotson enjoyed a career year with the Los Angeles Rams, while Michael Onwenu of the New England Patriots would bring experience at tackle and guard and has earned a PFF grade of 70.0 or better in each of the past three seasons.
4. Indianapolis Colts ($58.9M in cap space)
The Colts don’t have quite as much cap room as the Titans, but given where quarterback Anthony Richardson was selected in the 2023 NFL Draft, they will be confident that they have the position figured out for the foreseeable future.
Perhaps they will look to make a splash on defense and add an impact defender like cornerback L’Jarius Sneed, who earned a 71.1 PFF grade with the Kansas City Chiefs this past regular season. But the biggest advantage of having so much cap room is that they can place the franchise tag on wide receiver Michael Pittman Jr. as they look to keep him around long term.
5. Cincinnati Bengals ($59.4M in cap space)
While the Bengals have quarterback Joe Burrow on a long-term contract extension, his $29.7 million cap number in 2024 doesn't prohibit them from being aggressive this offseason. They do, however, have a contract extension for wide receiver Ja’Marr Chase on the horizon, so any free agency swings may need to be short-term moves.
This cap space could allow Cincinnati to bring back interior defender D.J. Reader and wide receiver Tee Higgins in an attempt to make another run at the Super Bowl.
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