The relationship between cash and winning in the NFL is complicated.<\/p>\n
Buying a contender in free agency is all but impossible. But if a team\u2019s owner is willing to spend, a front office can be more proactive in re-signing players. It can strike more boldly when there\u2019s an opportunity to take a big swing. When things inevitably go wrong, cash helps teams move on from mistakes and recover more quickly.<\/p>\n
After exploring Wednesday whether the Philadelphia Eagles<\/a> are a model for the rest of the league, an anomaly or a combination of both, we\u2019re back to take a run through the full 32-team league.<\/p>\n Teams are stacked below from highest to lowest cash spending relative to the salary cap over the previous five seasons (2020-24). We also show where each team ranks in Weighted Wins<\/a>, a metric that gives additional weight to postseason victories. This lets us determine a \u201cbang-for-buck\u201d differential (cash-over-cap ranking minus Weighted Wins ranking).<\/p>\n The Cleveland Browns rank No. 1 in cash-over-cap spending, but only 18th in Weighted Wins. That makes for a -17 differential, which is 30th in the NFL. The Los Angeles Rams, 28th in cash over cap and sixth in Weighted Wins, enjoy a league-best +22 differential.<\/p>\n Spending tends to be cyclical, evening out over a long period of time. Owners have different tolerances for risk. Some are tighter with their wallets. Massive increases in the salary cap reflect the NFL\u2019s revenue growth. Nearly all teams are now spending to the cap or beyond it in a given year, using accounting mechanisms to defer cap consequences.<\/p>\n \u201cIt should be more cyclical with a lean toward a more aggressive cash strategy if your owner is willing to do it,\u201d a general manager said. \u201cThere is no reason you should not be able to retain your good players in today\u2019s cap environment. And if you can almost weaponize your contract structure to allow you to put more talent on the field, you should be able to do that.\u201d<\/p>\n We\u2019ll look at teams four at a time, comparing their spending over the last 10 years to the NFL average with the help of data from Jason Fitzgerald of OvertheCap.com<\/a>. Hover over a chart to see cash-over-cap spending (using a three-year rolling average) by year.<\/p>\n Spenders 1\u20134Cleveland Browns<\/strong><\/p>\n The Browns were among the lowest-spending teams in the late 2010s as they accumulated draft capital while tearing down the roster to such an extent that former coach Hue Jackson accused them of tanking<\/a>.<\/p>\n Spending increased in the 2020s when some of those draft choices, led by Myles Garrett, cashed in. The team spent on outside acquisitions (Jack Conklin, Amari Cooper, Dalvin Tomlinson) before making perhaps the most ill-fated personnel decision in NFL history<\/a>.<\/p>\n The Browns\u2019 $230 million deal with quarterback Deshaun Watson was remarkable because it was fully guaranteed at signing. That required ownership to place a large chunk of the money in escrow.<\/p>\n \u201cThey had to cut a funding check of probably $184 million to the league, and it sits there for three years,\u201d an exec from another team said. \u201cIn September, they would get that year\u2019s portion back to pay it. The fully guaranteed contract ties up so much cash.\u201d<\/p>\n That\u2019s a big reason why Cleveland ranks No. 1 in cash-over-cap spending from 2020-24, with very little to show for it. By the end of this season, Watson will have received $184 million from the Browns, but only $94 million will have hit the cap. The remaining $136 million in cap charges loom in the future.<\/p>\n \u201cIf you look at total committed cash for (2022-24), you have Cleveland spending $250 million more than anyone,\u201d another exec said. \u201cThat is unbelievable.\u201d<\/p>\n San Francisco 49ers<\/strong><\/p>\n The 49ers have pushed hard in recent years without having much committed to the quarterback position.<\/p>\n \u201cSan Francisco does it a little differently,\u201d a cap manager from another team said. \u201cThey push a lot of money out, but they\u2019ve got a ton of cap space. They\u2019re rolling (unused cap space) over, and they\u2019re just staying liquid. If they do have anything flop and they have to pull the rip cord on any of these deals, they can absorb that hit and not wreck their team.\u201d<\/p>\n The equation changed when the 49ers paid quarterback Brock Purdy this offseason<\/a>.<\/p>\n \u201cTwo years from now, it\u2019ll start to get tougher for them,\u201d a different cap manager said.<\/p>\n With the Purdy deal, valued at $53 million per year, San Francisco can expect to commit more cash in 2025 than in any season during its history. This is despite the team trading receiver Deebo Samuel and parting with eight other players who commanded at least $10 million per year from other teams.<\/p>\n \u201cTo me, that is having a plan, knowing what is going to be successful and throwing money at it because they believe in the pieces working within their system, and Kyle (Shanahan) is a master of that,\u201d a former GM said.<\/p>\n Philadelphia Eagles<\/strong><\/p>\n The Eagles have dipped to 20th in cash spending this year, showing there will be ebbs and flows along the way, even if the overall trend is toward more spending.<\/p>\n The way Philly spends reflects what some in the league see as an overall mindset.<\/p>\n \u201cLet\u2019s say someone gets hurt and there is a need for a linebacker,\u201d an exec from another team said. \u201cAnother team is going to sign a young guy, because if he gets hurt, it\u2019s cheap, there is a split in his deal, no injury settlement. \u2026 Whereas Philly just goes and signs the best player, even if he\u2019s older.\u201d<\/p>\n Multiple execs noted that the 2024 Eagles started the same 22 players in Week 1 as they started in the Super Bowl, meaning nearly all their investments worked out.<\/p>\n \u201cThat is rare,\u201d one exec said. \u201cThe opposite happened to the 49ers, and look what happened to them.\u201d<\/p>\n New Orleans Saints<\/strong><\/p>\n The Saints are last in cash spending for 2025, which means the long-anticipated reset is finally underway.<\/p>\n \u201cThe amount of times they have kicked the can down the road has been unreal,\u201d an exec from another team said.<\/p>\n That made more sense when Drew Brees was the Saints\u2019 quarterback and championships felt within reach. The decision to keep pushing with Derek Carr behind center backfired.<\/p>\n \u201cI looked at them in January and said, \u2018Carr is their quarterback next year \u2014 they need him there to get under the cap,\u2019\u201d another exec said. \u201cThey could not cut or trade him. His number was so big, they needed him to restructure to get under the cap.\u201d<\/p>\n Carr\u2019s retirement this past offseason provided relief when he walked away from $30 million<\/a> in guaranteed salary for 2025.<\/p>\n \u201cThe NFC South is weaker, so you think, \u2018We have a chance to win the division,\u2019\u201d another exec said. \u201cBut OK, let\u2019s say you win the division. Then what?\u201d<\/p>\n Spenders 5\u20138Miami Dolphins<\/strong><\/p>\n The Dolphins pushed hard in recent seasons without having the postseason success to show for it.<\/p>\n \u201cThat is a very high cash-over-cap number for that run,\u201d a cap analyst for another team said.<\/p>\n Miami continues to rank high (ninth) in cash spending this season, but that figures to drop if the Dolphins decide their window for contention has closed. Moving on from Tyreek Hill and his $29 million base salary in 2026 could be one possibility.<\/p>\n \u201cEvery team feels like they are in a certain spot with how they spend, how they go after players,\u201d the cap analyst added. \u201cI\u2019m trying to figure out where in that pattern Miami saw itself over the last three years. Because in that division, that conference, you have Josh Allen, Joe Burrow, Patrick Mahomes.<\/p>\n \u201cIs it one of those things where, \u2018We think we have to spend this to compete at that level?\u2019\u201d<\/p>\n Dallas Cowboys<\/strong><\/p>\n It\u2019s become mainstream to say Cowboys owner Jerry Jones loves waiting until the last minute before signing players because he enjoys the public drama\/interest. This doesn\u2019t necessarily jibe with Jones\u2019 history.<\/p>\n \u201cThis is a relatively new thing that they have been waiting,\u201d a cap analyst said. \u201cThey used to do deals early and do long deals, like with Tyron Smith.\u201d<\/p>\n Contract length has sometimes been an issue for Dallas in negotiations as players and their agents across the league push for shorter deals that let them return to the market earlier. The willingness of Dak Prescott and others, including the recently traded Micah Parsons<\/a>, to wait for new deals is also part of the equation.<\/p>\n Prescott has used that leverage to sign two massive extensions, which is rarer than one might think for quarterbacks with the same team. The deal he signed in 2021 ranked second to Patrick Mahomes in APY. The deal he signed in 2024 continues to rank first.<\/p>\n The Falcons\u2019 Matt Ryan doubled up similarly with Atlanta, which dealt with a reckoning when the team failed to keep winning. Those Falcons, like these Cowboys, made huge investments in the receiver position as well.<\/p>\n \u201cIt\u2019s like with Kirk Cousins<\/a> \u2014 once you get leverage as a QB, you are set,\u201d an exec said.<\/p>\n Buffalo Bills<\/strong><\/p>\n No one questions the Bills\u2019 willingness to spend under owners Terry and Kim Pegula.<\/p>\n \u201cTerry is more than willing to spend as long as (GM) Brandon (Beane) gives him the reasons,\u201d a former Bills exec said.<\/p>\n Asked after last season whether the Bills would make a big move to help get them past Kansas City in the AFC, Beane said that\u2019s a dangerous mindset because no team is ever one player away. Buffalo\u2019s splash for Von Miller in 2022 (six years, $120 million) as he entered his age-33 season did not pay off.<\/p>\n I\u2019ve compared the Bills to the 1970s Raiders, who fell short year after year despite having great teams, because Pittsburgh and Miami were so dominant then. Those Raiders got over the top after acquiring defensive lineman John Matuszak.<\/p>\n \u201cBuffalo did push, and they had to really pull back last year,\u201d a GM from another team said. \u201cThey cut Stefon Diggs and all that kind of stuff. They had to really start chopping.\u201d<\/p>\n Houston Texans<\/strong><\/p>\n Houston ranks this high partly because the team paid more than $65 million in cash to Deshaun Watson, Laremy Tunsil and J.J. Watt in 2020, the beginning of the five-year window we selected. The team is closer to league average from 2022-24.<\/p>\n \u201cThey are calculated in how they do it,\u201d a cap analyst said. \u201cThey are not going to pay (Jonathan) Greenard, but they will go out and get (Danielle) Hunter on a short-term commitment to take advantage of C.J. Stroud\u2019s (cheap) rookie deal.\u201d<\/p>\n Houston recently moved on from Tunsil, the expensive veteran offensive tackle, before signing young corner Derek Stingley to a deal that reset the market by 20 percent in annual average. The Texans have also bucked convention on smaller rookie deals, creating issues for other teams to navigate.<\/p>\n \u201cThey are a bit of a wild card,\u201d one exec said. \u201cThey do deals that are aggressive. They did the corner on a three-year deal. They are player-friendly. They do their own thing.\u201d<\/p>\n Spenders 9\u201312Tampa Bay Buccaneers<\/strong><\/p>\n The Buccaneers have eased off the cash accelerator after pushing hard to win it all when Tom Brady was their quarterback. They ranked first in spending in 2021 after re-signing key players following their Super Bowl victory, but no higher than 24th in the past three years, including 27th this season.<\/p>\n \u201cTampa is opportunistic and smart and kind of fiscally conservative, a well-run operation that works around some constraints from ownership,\u201d one exec said.<\/p>\n Some of those constraints could explain why the Buccaneers, like many teams, have been less likely than Philadelphia to sign early extensions with mid-tier players before those players\u2019 markets are known more clearly.<\/p>\n Baltimore Ravens<\/strong><\/p>\n It\u2019s possible no team is more widely admired not only for its approach, but also for its ability to execute it consistently well.<\/p>\n \u201cIt\u2019s one thing to say you want to play the (compensatory) pick game, but you still have to have talent that generates big money in free agency, with somebody in the pipeline to replace that person,\u201d said Mike Sullivan, the Denver Broncos\u2019 director of football administration from 2012-19. \u201cThat is what most teams are not in position to do.\u201d<\/p>\n In other words, finding good players is difficult enough. Letting two or three of them leave for substantial deals in free agency, recouping compensatory picks from the league in exchange and then repeating the process?<\/p>\n \u201cThat is pretty amazing in terms of scouting,\u201d Sullivan said.<\/p>\n The Ravens ranked last in cash-over-cap spending from 2015-21, rising into the top half of the league more recently. Paying quarterback Lamar Jackson, defensive lineman Justin Madubuike and linebacker Roquan Smith is part of that.<\/p>\n \u201cThe owner there (Stephen Bisciotti) is very astute,\u201d a former GM said. \u201cHe believes in the system.\u201d<\/p>\n A current GM said he studies the Ravens for everything from practice-squad philosophy to drafting. Should Baltimore be pushing harder and taking more risks to get over the top in the AFC? They tried that with Odell Beckham Jr. a couple of years ago.<\/p>\n \u201cI think they are fine and are well-positioned for the future,\u201d another GM said.<\/p>\n Jacksonville Jaguars<\/strong><\/p>\n The Jaguars rank even higher in cash-over-cap spending since 2021 (fifth from 2021-24 and third this year). They rank sixth from the bottom in Weighted Wins since 2021, so clearly there is a massive disconnect.<\/p>\n \u201cWhen you do this, you gotta get the play out of your quarterback,\u201d an exec said. \u201cIf you do not, you are screwed.\u201d<\/p>\n Trevor Lawrence<\/a> is earning $55 million per year, tied for second in the league with Joe Burrow, Josh Allen and Jordan Love.<\/p>\n \u201cThe Rams got the play out of their quarterback when they pushed,\u201d the exec said. \u201cThe Eagles are getting the play out of their quarterback. San Fran, getting play out of their quarterback. New Orleans was not. Jacksonville has not, except for the one year they got to the playoffs.\u201d<\/p>\n New York Jets<\/strong><\/p>\n The Jets pushed hard with Aaron Rodgers, and it didn\u2019t work out. They rank 29th in cash spending for 2025, which is presumably part of a correction.<\/p>\n \u201cThere is a bucket here for teams that have gone for it recently and have succeeded or failed,\u201d an exec said. \u201cNew Orleans, Jacksonville, the Jets, Miami and Cleveland got bad returns. Three of them just turned over their whole staffs.\u201d<\/p>\n Coincidentally or not, the Jets\u2019 cash spending spiked after owner Woody Johnson returned to the U.S. after his ambassadorship to the United Kingdom ended in 2021.<\/p>\n Spenders 13\u201316Denver Broncos<\/strong><\/p>\n Denver peaked at 11th in cash-over-cap spending after paying Russell Wilson. That has risen to sixth in 2025, as the Broncos gave lucrative extensions to Courtland Sutton, Zach Allen and Nik Bonitto (now the highest-paid player in team history) before the season.<\/p>\n\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n