It's more than a Billion from the numbers I have gathered. But it can be paid off quicker if the market gets back to normal this next season. The $81.5M salary cap is set on a $5.09B market. The projected market this next season is $4.8B but that is designed to be conservative. If we have a healthy market with fans back in the seats, new US TV revenue, New Seattle revenue, and inflation, it's going to be paid off in 3 years max. Maybe two depending on growth
All what you are hearing right now is noise and extreme conservative projections. They are smart to project conservative numbers but some members of the media and fans are not taking other context into it... context you can put together and context they will keep to themselves. Look at the spending this offseason and contracts given out... I bet you some teams have their own calculated projections and have gambled a bit on a faster growing cap.
Look at these numbers I gathered in Nov of 2020 (See below). The Balance would be paid off after the 23/24 season but then consider if the HRR ends up being more than the conservative projections? People forget that right before Covid, the cap projections for 20/21 was expected to be $84M - $88M range depending on escrow. That was before new US TV deals and Seattle revenue. That would have been a market well north of $5.09B! The only thing that could derail this is a 4th waive of Covid!