According to the Associated Press, the salary cap is going up an extra $5 from where it was originally estimated going into this offseason.
Per the AP story, NFL teams will have nearly $12 million more under the salary cap this season, the final year with one in place unless the league and its players’ union can reach a new collective bargaining agreement.
The cap was due to increase $7 million to $123 million this season, but additional adjustments stipulated in the current CBA will increase the total amount that teams can spend on player compensation to about $128 million. The $12 million increase is the largest in three years.
The league informed teams Wednesday that a “cash-adjustment mechanism” from final accounting figures in May will give clubs $947,000 of additional salary cap room, NFL spokesman Greg Aiello said in an e-mail to The Associated Press on Friday.
After the release of Larry Foote, the Steelers were between $2 and $3 million under the cap but needed to clear additional space to sign their rookie class.
Now, they may not only have enough money to do that, they may also have some extra cash available to sign a couple of their impending free agents.