The NFL will raise its salary cap to about $130 million, up about 5 percent from $123 million last season, league sources said Thursday.

The $130 million figure is higher than teams were expecting and is welcome news for many, especially the cash-strapped Dallas Cowboys and New Orleans Saints.

Another league source told ESPN that the projected salary cap could go as high as $132 million.

Cowboys executive Stephen Jones has said he wouldn't make any decisions about players' futures "'til it's time to get under the cap."

Teams do not need to be compliant with the salary cap until March 11, but some have started cutting players to create cap savings. The Detroit Lions last week released Louis Delmas and Nate Burleson, and the Saints cut Will Smith, Roman Harper and Jabari Greer.

ESPN.com's John Clayton and ESPN.com Cowboys writer Todd Archer contributed to this report.