NFL Salary Cap Announced at $143.28 Million For 2015

March 2, 2015 2:08 PM EST

The NFL’s salary cap for 2015 has officially been set at $143.28 million, the league announced Monday.

This is the second straight year in which the NFL’s salary cap jumped by $10 million. The 2014 salary cap was $133 million.

According to OverTheCap.com, the current leaders in estimated cap space are the Jacksonville Jaguars ($68.2 million), Oakland Raiders ($55.4 million), Cleveland Browns ($53.7 million), New York Jets ($51.4 million) and Indianapolis Colts ($45.2 million).

The new league year will officially begin March 10, which also marks the beginning of free agency. Teams must be under the 2015 salary cap by this date and have submitted any qualifying offers to restricted free agents.

Clubs must designate franchise or transition players by 3 p.m. CT on Monday. Negotiations may begin with unrestricted free agents on March 7.

Franchise tag values based on position were also announced.

Official franchise tag #s on offense with cap of $143.28M: QB ($18.544M), RB ($10.951M), WR ($12.823M), TE ($8.347M), OL ($12.943M).
— Ian Rapoport (@RapSheet) March 2, 2015

Franchise tag #s on defense with cap of $143.28M: DE ($14.813M), DT ($11.193M), LB ($13.195M), CB ($13.075M), S ($9.618M), K/P ($4.126M)
— Ian Rapoport (@RapSheet) March 2, 2015

This article originally appeared on SI.com.

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