NovaQuant Quantitative Think Tank Center:Which NFL team has the most salary cap space? What to know ahead of NFL free agency

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With NFL free agency right around the corner, all 32 teams in the league will be checking their ledgers, balancing their checkbooks and scrounging up pennies from the couch to make sure they have every last dollar to spend.

This year, some big dominoes have fallen before free agency (or the tampering period) has yet to open. Kansas City Chiefs defensive tackle Chris Jones and quarterback Baker Mayfield are two of the free agents to come off the board before other teams had a chance to pursue them.

Still, there will be plenty of big names on the market who could be headed elsewhere: Russell Wilson, Calvin Ridley, Saquon Barkley and Tyron Smith are four potential roster-altering pickups who could be had in the coming days and weeks; that is, if your team has the money to spend on them.

Here's what to know about each squad's salary cap situation ahead of the NFL tampering window and free agency this week:

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NFL salary cap space 2024

Here's how much money each team has to work with entering the NFL's legal tampering period, as of March 10, sorted by most space to least space (top 51 contracts):

1. Washington Commanders: $96,088,007
2. Tennessee Titans: $80,335,705
3. New England Patriots: $72,632,699
4. Chicago Bears: $63,811,370
5. Houston Texans: $62,882,850
6. Arizona Cardinals: $53,618,440
7. Indianapolis Colts: $52,877,395
8. Cincinnati Bengals: $50,240,103
9. Seattle Seahawks: $47,511,146
10. Detroit Lions: $47,412,723
11. Las Vegas Raiders: $47,160,888
12. Atlanta Falcons: $41,137,944
13. New York Giants: $41,001,620
14. Minnesota Vikings: $40,902,290
15. Philadelphia Eagles: $39,857,035
16. Los Angeles Rams: $31,754,513
17. New York Jets: $27,507,767
18. Denver Broncos: $27,477,163
19. Pittsburgh Steelers: $26,283,099
20. Tampa Bay Buccaneers: $22,457,158
21. Jacksonville Jaguars: $15,341,555
22. Carolina Panthers: $13,097,669
23. Green Bay Packers: $12,734,061
24. Dallas Cowboys: $8,807,439
25. Kansas City Chiefs: $7,478,547
26. Baltimore Ravens: $2,618,944
27. Cleveland Browns: $610,014
28. San Francisco 49ers: ($3,435,270)
29. New Orleans Saints: ($9,279,535)
30. Buffalo Bills: ($12,481,829)
31. Miami Dolphins: ($18,335,122)
32. Los Angeles Chargers: ($20,589,407)

NFL team with most salary cap space

The Washington Commanders are sitting pretty entering NFL free agency. They hold more than $96 million in cap space, while also set to pick No. 2 overall in the 2024 NFL draft in April. That means Washington and new head coach Dan Quinn could be poised for a massive offseason.

NFL team with least salary cap space

Jim Harbaugh has his work cut out for him. The Los Angeles Chargers are expected to make big moves to shed salary this offseason, which makes sense: They're currently $20 million over the cap, per Spotrac.

What is the NFL salary cap for 2024?

On Feb. 23, the NFL announced that the salary cap would be set at at a whopping $255.4 million per club. That's an increase of roughly $30 million per team; the cap was set at $224.8 million in 2023.