Getty Images

For 2014, each team will have $10 million more to spend than it had a year ago.

Per a league source, the salary cap will be $133 million in 2014. That’s a significant jump from the spending limit of $123 million last year, especially in light of recent increases of only a million or two per year.

Tom Pelissero of USA Today reports that the official number will be announced most likely by Monday, and possibly as soon as tomorrow.

In response to recent reports that the cap will be $132 million, we were told it could be a few million higher. In the end, it’s only a million more. Still, it’s a big jump over the $126.3 million projection shared with owners during the 2013 season.

The increase is good news for teams that need cap space, like the Steelers and Cowboys. But it’s bad news for teams that prefer to keep their money in their coffers. The current labor deal requires each team to spend 89 percent of the unadjusted cap, on (for now) a three-year rolling average.

If/when the official cap numbers are released, the various franchise tags also will be set. Under the 2011 labor deal, the franchise tags are tied to a percentage of the cap.

The higher the cap, the greater the tags will be.