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2015 NFL salary cap set at $143.2 million, up $10 million

Matthew Emmons-USA TODAY Sports / Reuters

The NFL salary cap will be raised from $133 million to $143.2 million for the 2015 season, according to Fox Sports' Mike Garafolo

With league revenue continuing to increase, the NFL is slated to allocate more room for player salaries next year. 

A $10-million ncrease will allow teams to spend more lavishly in free agency, or allocate a larger budget for future transactions. Many prominent players were released last week due to fears over a smaller increase in the cap. 

RELATED: NFL announces official franchise tag values for 2015

An increased salary cap also sees the franchise tag salary numbers escalate, with NFL Network's Ian Rapoport reporting new projections for each position. 

The NFL free agency period officially begins March 10 at 4 p.m. ET. 

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