During NFL meetings in December, the cap was originally projected at $126.3 million.
It is the first significant leap since the new Collective Bargaining Agreement in 2011.
It’s also the highest cap in league history, aside from 2010, an uncapped year.
The salary cap is determined by taking a percentage of all projected NFL revenues, subtracting projected benefits for the upcoming season and diving it by all 32 teams.
Teams are able to carry over any unused money from the previous league year.
Under the CBA, clubs must spend an average of 89 percent of the cap during the 2013-2016 period with an average of 95 percent of the cap money spent leaguewide across that same period.
According to the NFLPA, approximately $33 million from each club will go towards pension, disability benefits, workers’ compensation and other benefits.
Salary cap recent history
2009 – $127.997 million
2010 – Uncapped year
2011 – $120.375 million
2012 – $120.6 million
2013 – $123 million