NFL Dead Cap Hits Over the Last 7 Seasons

In the cold, calculated world of NFL front offices, “dead money” is the ghost that haunts the salary cap. It is the lingering financial obligation for players no longer on the roster—the price paid for failed high-stakes gambles, sudden retirements, or the aggressive “win-now” restructures that define the modern era. Across the last seven seasons, from 2019 through 2025, the league has absorbed a staggering $9.73 billion in combined dead cap hits as franchises increasingly prioritize roster mobility over long-term stability.

General managers now treat the cap like a high-interest credit card: swipe for immediate talent and deal with the interest later. Whether it was the Philadelphia Eagles eating a then-record charge to trade Carson Wentz or the Denver Broncos swallowing the fallout of the Russell Wilson era, dead money has become a standard tool for rebuilding and reloading. While some clubs, such as the Cincinnati Bengals, operate under a “pay-as-you-go” philosophy, others view dead money as a necessary tax in the hunt for a Lombardi Trophy.

The spectrum of approaches is stark. Cincinnati’s league-low $151 million dead cap since 2019 reflects a conservative structure that rarely guarantees massive future guarantees. Kansas City sits just above at $156 million, managing the books with surgical precision around superstar Patrick Mahomes. Indianapolis ($182 million) and the Los Angeles Chargers ($194 million) have likewise avoided the “all-in” restructures that balloon dead totals, while Pittsburgh’s traditional model of letting veterans finish their deals keeps the Steelers at a modest $219 million.

At the opposite end, the Philadelphia Eagles lead the league with $453 million in dead money, treating the charge as a strategic asset rather than an albatross. Howie Roseman’s front office willingly absorbs short-term pain—most notably the Wentz decision—to prevent roster stagnation. The New York Jets, cycling through repeated rebuilds, rank second with $422 million, followed by the Carolina Panthers ($388 million) and Houston Texans ($379 million), each haunted by scorched-earth teardowns and constant quarterback turnover.

Other notables include Denver, whose $85 million Russell Wilson fallout helped push the club to $341 million; the Los Angeles Rams, whose “F*** the Cap” approach delivered a Super Bowl but cost $312 million; and New Orleans, whose perpetual restructures eventually came due to the tune of $370 million. Even Seattle’s post-Russell Wilson reset, culminating in a 2025-26 Super Bowl triumph, required a $316 million exorcism.

The $9.73 billion figure is more than an accounting curiosity—it is the modern cost of competition. For aggressive franchises, dead cap is a badge of honor, evidence of a willingness to strike when contention is possible. For others, it is a ledger of mistakes, a reminder that the only thing more expensive than paying for the past is failing to invest in the future.