The Chargers are in salary cap hell and will have some tough decisions to make going into free agency.
The immediate burden the Chargers will carry is $32,756,666 of the 2023 savings counting against the 2024 cap. The remaining $7,611,666 will be added to the 2025 cap figures.
The concerning aspect is that the Chargers were already in a compromised position regarding their 2024 cap. Assuming an 8% growth rate in the base salary cap, which was witnessed this year, it could reach $242,784,000. Prior to the restructures, the Chargers were projected to be considerably over the cap. When factoring in additional details such as $2 million in roll-over cap from this season, a $3 million budget for signing rookies, and a $7 million in-house budget, the estimate was around $45,000,000 over the cap before Justin Herbert’s fifth-year option was exercised. With the restructures, the addition of Eric Kendricks, and Morgan Fox, and Herbert’s fifth-year option, the team is currently projected to be $83,049,973 over the cap for 2024.
The Chargers will have to fill more holes in 2024 than they did in 2023. In addition to creating approximately $83 million in cap space, the team will need to find replacements for starters such as Michael Davis, Austin Johnson, Austin Ekeler, Gerald Everett, Kenneth Murray, and Alohi Gilman.
The only real advantage that the Chargers have over other teams, and the reason why the media is giving them such a high ranking, is that they have their franchise quarterback in place, the only team with an HC opening that can say that. Outside of that, they aren't that great of a landing spot.