The NFL announced Friday that its salary cap for the 2024 season will be a record $255.4 million per team -- a stunning 13.6 percent increase over last year's cap and a sign that the league is entering a new phase of exploding revenue.

This year's salary cap will be $30.6 million more per team than last year's $224.8 million -- by far the largest jump it has taken from one year to the next since the salary cap was introduced in 1994.