Coinciding with Monday's deadline (4 p.m. ET) to designate franchise or transition players, the NFL notified its teams today that the 2015 salary cap will be set at $143.28 million, according to NFL Media.
That figure is an increase of $10 million per team over 2014 and $20 million more than two years ago.
The announcement also comes in advance of March 10, when the new league year officially begins and free agency opens.
From March 7-10, clubs are permitted to contact and enter into contract negotiations with certified agents of players who are set to become unrestricted free agents. However, a contract cannot be executed with a new club until March 10 at 4 p.m. ET.
Here are the best NFL free agents for 2015, according to NFL.com