Updating previous reports, according to The Associated Press the 2004 NFL salary cap has been officially set at $80.582 million, or approximately $5.6 million more than last season. The cap this year is 64.75 percent of the league's defined gross revenues, which is made up of radio and television revenue and gate receipts from all games -- preseason, regular season and playoffs. All teams must be at or below that number before the free-agent signing period begins March 3. In addition, cap rules stipulate all franchises must spend at least $67.3 million this season.
