It's an increase of $10 million from last year.
Teams are allowed to carry over their salary cap space from last year, and the average carry-over from last year was $6.1 million per team. So, NFL teams will have an average of $139.1 million to spend on player salaries.
Teams are required to spend an average of 89 percent of the salary cap in cash from 2013 to 2016. NFL teams league-wide are required to spend an average of 95 percent of the salary cap during that span.
"This creates a cash-spend floor, forcing historically low-spending clubs to offer overall competitive compensation for packages," the union said in a statement.
Teams are required to spend over $33 million in benefits, including pension, severance, workers compensation, insurance premiums and disability benefits.
The top 10 known salary cap figures on the Ravens' books for 2014 are nose tackle Haloti Ngata ($16 million), quarterback Joe Flacco ($14.8 million), cornerback Lardarius Webb ($10.5 million), running back Ray Rice ($8.75 million), offensive guard Marshal Yanda ($8.45 million), outside linebacker Terrell Suggs ($7.8 million), outside linebacker Elvis Dumervil ($3.375 million), defensive tackle Chris Canty ($3.166 million), punter Sam Koch ($2.8 million) and cornerback Jimmy Smith ($2.374 million).