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NFL Sets Salary Cap At $182.5 Million

Commissioner Roger Goodell, left, and NFL Players Association executive director DeMaurice Smith talk before the NFL Super Bowl 55 football game between the Kansas City Chiefs and Tampa Bay Buccaneers, Sunday, Feb. 7, 2021, in Tampa, Fla. (AP Photo/David J. Phillip)

With free agency a week away, the NFL finalized next year's salary cap Wednesday -- informing teams the figure with be $182.5 million. 

That number is above the $180 million floor the league and the player's union agreed upon, but a sharp fall from last year's cap of $198.5 million. The league's revenue fell dramatically in 2020 due to the pandemic, with teams not able to fully pack stadiums. 

As a result, Washington will have a projected $38 million in cap space to work with -- the sixth-most in the league, according to Over The Cap.

As of Wednesday, 10 teams have negative cap space. League experts expect a flurry of cuts could happen within the next week as teams try to create room to spend in free agency.

With the cap being finalized, teams were also informed of the exact salaries for the players who were given the franchise tag this year. Washington guard Brandon Scherff will make $18 million.

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