How LA Rams can create over $65 million more cap space entering free agency

Yes, the LA Rams have some money to spend. But when is there really 'enough' cap space? For the LA Rams heading into the 2024 NFL season, the available salary cap space number is somewhere between $40.9 million (overthecap.com) and $43.6 million (Spotrac.com) as of March 6, 2024. Dating the cap space is vital because, for every adjustment to the team's payroll for the upcoming NFL season, the available cap space is ultimately impacted.

Is $40 million enough? Well, to be honest, the Rams are not even among the Top-10 teams in terms of available cap space. And six teams that are among the Top-10 teams in terms of available salary cap space have more players under contract for the 2024 NFL season.

You see, cap space alone is not enough to understand how the team is prepared for the 2024 NFL Free Agency market. The Rams, with 52 players under contract, must add 38 more players to the roster. As the team does so, the offseason rules of the Top-51 contracts apply. That means that for every player the Rams sign, a less expensive player is removed. The Rams have six players currently under contract for 2024 at $795,000. That means that new additions to the roster will impact the available salary cap by the 2024 cost of that new contract, less the $795,000 that was already on the books by the less costly player.

So it comes down to that financial shuffleboard effect. As more expensive players are signed to the team's roster, less expensive players fall out of the Top-51 used to calculate the salary cap impact.

But there are other costs that many do not factor into the mix. For starters, the LA Rams rookie draft class is going to be expensive. With 11 picks in tow, and four of those picks falling among the Top-100 selections, the Rams front office has to allow approximately $9 million of space that is set aside to sign the rookies who are selected during the 2024 NFL Draft. Then there is the amount that the team wishes to carry into the new NFL season for contingencies such as adding players to cover injuries, roster changes due to bad fits, and simply money to sign or trade for players who could prove to be essential upgrades. For that amount, I would estimate approximately $10 million.

That brings the Rams available space down to $21-25 million, a more modest amount. So, what can be done to bolster that number?

Well, for this article, we propose taking the steps to free up more than an additional $65 million in cap space. How can the team do that? Well, we need to borrow the expertise from overthecap.com as of March 7, 2024. Why date that information? Well, as time passes, contractual clauses will kick in, and roster bonuses and other financially impactful events will take place.

All set? Let's free up some cash . . .

Six steps to creating nearly $65 million in cap space

1. VI: Savings of $7.7 million ($7.7 million total)
2. V: Savings of $19.86 million ($27.56 million total)
3. IV: Savings of $11.03 million ($38.59 million total)
4. III: Savings of $12.53 million ($51.12 million total)
5. II: Savings of $11 million ($62.12 million total)
6. I: Savings of $5.6 million ($65.72 million total)
7. Summing it all up