The Baltimore Ravens have concluded their 2023 season, and the focus now shifts to what’s shaping up to be a franchise-altering offseason for general manager Eric DeCosta.
Where things currently stand, the Ravens are expected to have roughly $7,328,828 in cap space via OverTheCap, which is the 20th most in the NFL.
That number could grow if the team opts to part ways with some expensive contracts (perhaps Ronnie Stanley and Marlon Humphrey.
The Ravens have 48 players currently under contract for the 2024 season; we’re looking at six moves that can create $51 million in cap space per the Over The Cap transaction table.
Post June 1 Cut --Ronnie Stanley
Cap saving: $15,000,000
Dead money hit: $11,168,250
The talented offensive tackle has started every game since he was a rookie in 2016 and has dealt with injuries since 2019. He played seven games between the 2020 and 2021 seasons and missed five in 2022.
In 2023, Stanley missed four games, dealt with injuries throughout this season, and spent the final stretch on a pitch count.
When Stanley is healthy, he’s a solid player but hasn’t been a Pro Bowler or All-Pro player since 2019.
In 2023, Stanley finished 37th in PFF’s overall grades, 22nd in pass blocking, and 41st in run blocking behind backup Patrick Mekari (who filled in for both tackles as needed).
Restructure Marlon Humphrey
Still only 27 years old, Humphrey signed a 5-year contract extension with the Ravens in 2020 worth $97.5 million in new money with $40.3 million in full guarantees at signing. Humphrey has an additional $30 million in vesting and roster bonus guarantees through the contract, bringing the total guarantee to $70.3 million.
The Ravens converted $9.42 million of salary to a bonus in 2023, creating $7.536 million in cap room. Humphrey’s cap number from 2024 to 2026 increased by $1.884 million annually. There is now an additional void year in 2027.
Humphrey, a three-time Pro Bowl player, missed a career-high eight games this season with foot, hamstring and calf injuries. In 10 games, he had 26 tackles, five passes defensed and one interception.
Baltimore finished with the No. 6 pass defense in the NFL without him and didn’t allow a 300-yard passer this season heading into its AFC title loss to the Chiefs.
Restructure QB Lamar Jackson
Cap savings: $11,100,000
Jackson signed a five-year, $260 million contract with the Ravens last May. $185 million is guaranteed, of which $135 million was fully guaranteed at signing.
According to Over The Cap, Jackson’s 2023 and 2024 salaries are fully guaranteed, and he will receive a $72.5 million signing bonus. There is a guaranteed option in 2024 worth $17.5 million and another option due in 2025 worth $22.5 million. If Jackson is on the roster on the 5th day of the 2024 league year, he will have his 2025 base salary of $20.25 million and a $750,000 roster bonus will be guaranteed.
Restructure Marcus Williams
Cap savings: $7,193,333
Williams signed a five-year contract with the Baltimore Ravens worth $70 million. Williams received $17.080 guaranteed at signing, including a $14.965 million signing bonus. $5 million of his 2024 salary is guaranteed for injury at signing, and it is vested to a full guarantee on the 5th day of the 2023 league year.
The 18th highest-graded safety in the NFL last season, Williams would net Baltimore almost $8 million with a restructure.
Restructure Mark Andrews
Cap savings: $4,937,500
Andrews signed a four-year, $56 million contract with the Ravens on September 6, 2021. Andrews received $37.58 million in guarantees, of which $30 million was guaranteed at signing.
Andrews had a down season due to injury but should return to form in 2024.
Post June 1 Cut, Trade -- Tyus Bowser
Cap saving: $5,500,000
Dead cap hit: $2,000,000
Bowser has been up and down since being drafted by the Ravens in the 2nd round back in 2017.
During his first four seasons, he never started more than two games. Then, in 2021, he started all 17 games and set career-highs in sacks (7), solo tackles (33), and QB hits (15). After signing a four-year, $22 million extension, Bowser has played nine games since.
A torn Achilles in ’21 and offseason knee surgery following the 2022 season caused Bowser to miss every game this past season.
Bowser has only one year left on his extension and a team-friendly cap hit.
