According to Albert Breer of NFL.com, the salary cap for the 2014 season has officially been set at $133 million:
The NFL has notified clubs that the salary cap for 2014 will be $133 million.— Albert Breer (@AlbertBreer) February 28, 2014
After the Cleveland Browns released LB D'Qwell Jackson a few days ago, I broke down the amount of cap space the team had. I have now adjusted that post to reflect the new cap, which gives the Browns $57.45 million in cap space.
I also posted an in-depth article earlier today, explaining what the 89% minimum cash spend requirement for NFL teams, including the Browns, really means. That post has also been updated to account for the $133 million salary cap.
Based on the new cap figure, it would cost the Browns $11.654 million to use the franchise tag on C Alex Mack, and $8.433 million to use the franchise tag on SS T.J. Ward.