Are NFL Salary Caps Good for Business?

Some say the time has come to ban the league’s contract limits

On March 2, the NFL announced that the 2015 salary cap was increasing roughly $10 million to $143.28 million. On Tuesday, NFL free agency began and the deals started to fly. Most notably was the Jets $70 million offer to lure corner back Darrelle Revis back from the New England Patriots.

According to AP, teams can carry over unspent money from previous years. So, the New York Jets had slightly more than the cap, at $156.1 million. The Jacksonville Jaquars had the largest amount to spend at $168.4 million, with Cleveland trailing at $161.7 million for player salaries in 2015.

The cap was set at $34.6 million in 1994 when the NFL rule was established. The number has consistently increased based on revenues of the league and other factors as determined by the league.

What do you think about salary caps? Are they necessary? Leave a comment below or #Soundoff and follow @BlackEnterprise on Twitter.

 

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