New York, New York - NFL team salary caps for the 2025 season have been projected by the league at $277.5 million to $281.5 million, a huge hike for each team, according to multiple reports on Wednesday.

A league memo to each team said no exact figure has been established, but the range outlined in a memo to all clubs and seen by ESPN and the NFL Network showed a range well above the $265 million to $275 million each team had been budgeting for payrolls last December.

The cap escalation, a sign of major growth on the business side of the NFL, would be at least a $22.1 million boost from last season's salary cap of $255.4 million per club coming off a record jump from $224.8 million in 2023.

On the high side, that would amount to a $26.1 million increase per team.

That means a hike of more than $53 million over the past two years and a boost by at least $100 million since 2018.

The NFL's annual salary cap is tied to league revenues through a formula agreed upon with the NFL Players Association as part of their collective bargaining agreement.

A final cap number is expected to be settled next week ahead of the March 12 start of the new league year and free agency.