Patriots Salary Cap Benefit? NFL Sets 2023 Spending Ceiling

The Patriots are expected to be among the NFL's best-situated teams when it comes to financial flexibility and draft capital.

FOXBORO — With several positions in need of an upgrade, the New England Patriots now have a clear picture of the financial resources with which they may operate this offseason.

Each NFL franchise, including the Patriots, were informed by the NFL on Monday that the salary cap for 2023 will be set at $224.8 million — a significant increase from last years’ $208.2 million.

As a result, Patriots salary cap expert Miguel Benzan has calculated New England’s cap availability at $34.07 million, ranking sixth among the league’s 32 teams. Bezan’s precursory estimates have been consistently accurate, as he had previously used a conjectured $225 million spending ceiling in his calculations.

This official figure of $224.8M is slightly less than the $225M figure I was using. This will decrease the PPE raises for Kyle Dugger and Michael Onwenu. https://t.co/7UfsVtsQCi

— Patscap (@patscap) January 30, 2023

New England currently has 22 members of its 2022 roster headed for free agency when the new league year begins on March 15. The Pats face some critical decisions on whether to retain their internal commodities or allow them to hit the open market.

Wide receiver Jakobi Meyers, running back Damien Harris, cornerback Jonathan Jones and special teamers Matthew Slater, safety Devin McCourty and long snapper Joe Cardona constitute the team’s viable priority options for retention. As such, the Pats should be expected to be quite active, both internally and externally, on the open market.

In addition to their salary cap space, the Patriots also stand to own as many as 11 selections in the 2023 NFL Draft. Despite already possessing eight picks, New England is projected to inherit as many as three additional choices through the league’s compensatory process.

Following a disappointing 8-9 finish, devoid of postseason play for the second time in three seasons, the Patriots are singularly focused on returning to prominence. The team has already hired ex-Alabama Crimson Tide coach Bill O’Brien as their new offensive coordinator, while most members of their coaching staff have taken on the duties of guiding the West squad for Thursday’s East-West Shrine Bowl at Allegiant Stadium in Las Vegas.

Ranking near the top of the league in available assets (both finance and draft capital), the Patriots may be poised for an active and highly-productive offseason. 

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Follow Mike D’Abate on Twitter @mdabateNFL and Listen/Subscribe to his daily podcast: Locked On Patriots

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