2024 MLS Player Salaries Fall update: 5 Takeaways from

2024 MLS Player Salaries: 5 Key Takeaways

1. Overall Salary Cap Rises

The overall salary cap for MLS teams has increased from $9.2 million in 2023 to $9.6 million in 2024. This increase of about 4.3% is the largest increase in the league's history and gives teams more flexibility in roster construction.

2. Minimum Salaries Increase Significantly

The minimum salary for MLS players has increased by 12.5% from $81,300 in 2023 to $91,500 in 2024. This is a significant increase that will help improve the financial situation of lower-paid players in the league.

3. Designated Players Rule Changes

MLS has changed the designated player rule, which allows teams to sign up to three players outside of the salary cap. Previously, these players' salaries could not count against the cap at all. Starting in 2024, a portion of designated players' salaries will count against the cap, with the exact amount depending on the player's age and years of service in the league.

4. More Flexibility for Teams

The changes to the salary cap and designated player rule give MLS teams more flexibility in roster construction. Teams can now spread their spending more evenly across their roster, allowing them to build deeper and more balanced squads.

5. Increased Competition for Players

The increased salary cap and minimum salary will likely lead to increased competition for players in the MLS. This could result in higher salaries for top players and more opportunities for players from around the world to join the league.