The NFL salary cap will fall to $182.5 million in 2021, which is an eight percent drop from the 2020 figure, according to ESPN's Kevin Seifert.
A drop in the salary cap was expected due to lost revenue from the COVID-19 crisis. Attendance across the league dropped 92 percent in 2020, per Seifert.
The salary cap could have reportedly dropped to as low as $160 million based on the declining revenue from 2020, per ESPN's Dan Graziano. However, the NFL and NFLPA worked to install a cap floor for the 2021 season, with the lowest possible number sitting at $175 million.