Minnesota Vikings salary cap update post-first wave of free agency is in a much better place than perception would have you believe
There is a lot of nuance with the Vikings’ latest salary cap update.
One of the biggest stories with the Minnesota Vikings throughout the first wave of free agency. They entered the offseason with more than $46 million over the salary cap and needed to maneuver to get under that mark. They were able to do so with multiple restructures across the board, including wide receiver Justin Jefferson.
In the first wave of free agency, the Vikings signed just two players from outside the organization, totaling just $9.8 million in max value:
There were hopes that they would do more in the first wave of free agency, but that hasn’t been the case due to their salary cap situation, which has changed a lot over the last week.
Minnesota Vikings salary cap update after first wave of free agency
Right now, the Vikings don’t have a ton of salary cap space at their disposal. Per Over The Cap, the Vikings have $5.9 million in cap space. That will grow to approximately $9.4 million once Aaron Jones’ pay cut is reflected.
That isn’t exactly a lot to work with for the Vikings. It’s also important to note two things when talking about the current cap space: it doesn’t include the savings from both defensive tackle Jonathan Allen and safety Harrison Smith. Both players were deemed to be post-June 1st cuts, meaning their savings totaling $12.5 million won’t hit the salary cap until after that date.
It’s an important factor here, as the Vikings need to set aside around $17 million with the salary cap. That money will account for multiple things:
- The final two roster spots, as only the top 51 are accounted for until final cuts
- Signing the draft picks
- Practice squad
- In-season signings
The majority of that is going to come from the two post-June 1st cuts. The rest can come from a couple of other roster moves they could end up making: trading edge rusher Jonathan Greenard ($12.25 million in savings) and extending right tackle Brian O’Neill (upward of $18 million in savings).
We’ve been waiting for what seems like two weeks for a resolution on Greenard. There have been numerous rumors about a potential trade, but it hasn’t happened yet. On the other hand, there has been no discussion about an O’Neill extension.
State of 2027 Vikings’ salary cap is healthy
Looking ahead to the 2027 salary cap is important to the discussion. Right now, the Vikings have 33 players under contract with salary cap liabilities of $259.5 million. It gives them salary cap space of approximately $67.5 million. Effective cap space before the draft class is added in will be around $18 million less, giving them around $49 million to spend in free agency next year.
One added element for the Vikings is the impending salary cap credits they will likely receive from both the Cincinnati Bengals and Green Bay Packers signing defensive tackles Jonathan Allen and Javon Hargrave, respectively. Allen ($8 million) and Hargrave ($4 million) had significant guarantees remaining, and their cash paid in 2026 will give the Vikings up to a $12 million salary cap credit. That’s a big deal for the Vikings to get that money back, and important to understand that it’s not coming until the 2027 season.
Overall, the salary cap is still relatively healthy for the Vikings overall, but it’s not going to result in any more significant moves going forward.
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