The 2023 NFL season is underway, and after a tense offseason, all is well in Baltimore after Lamar Jackson signed a 5-year, $260 million contract extension.
The league salary cap is expected to exceed $224 million in 2023, according to NFL Network’s Ian Rapoport.
Buy Ravens TicketsWhere things currently stand, the Ravens are nearly $3 million over the salary cap and need to make a move by tonight.
The Ravens are presently a little over $2M OVER the Cap. They will need to be under the Cap by midnight tonight. They likely have already done so, but they will need to restructure a contract or two to get under the Cap & create some Cap cushion for injuries & PS elevations. pic.twitter.com/FUpOntLIi2
— Brian McFarland (@RavensSalaryCap) September 6, 2023
Baltimore is set to have 24 pending free agents, and with another likely retool schedule on defense, the organization could conjure up a scheme for more flexibility.
According to Over the Cap’s potential transaction chart, the Ravens can easily create $20 million in cap space by making these five moves.
Restructure LT Ronnie Stanley
With a restructure, the Ravens could create over $7 million in cap space.
Stanley signed a five year, $98.75 million contract extension with the Ravens in 2020 that included $70.866 million guaranteed(this is inclusive of his prior contract guarantee). $64.166 million is fully guaranteed.
The 2023 season is the final year of guaranteed money for Stanley and he has a cap hit of $26 million for 2024 and 2025.
Restructure CB Marlon Humphrey
With a restructure, the Ravens could create over $7 million in cap space.
Humphrey signed a 5 year contract extension with Baltimore worth $97.5 million in new money with $40.3 million in full guarantees at signing in 2020.
This season is the final year of guaranteed money on the deal, while Humphrey has cap hits of $20M, $23M, and $21M in 2024-2026.
Restructure TE Mark Andrews
Creates $4,446,667 in salary cap space
Andrews signed a four year, $56 million contract with the Ravens in 2021. Andrews received $37.58 million in guarantees of which $30 million was guaranteed at signing.
Extend QB Tyler Huntley
Creates $1,293,600 in salary cap space
Huntley is a solid backup quarterback and could have suitors on the open market. An extension to keep him with Lamar Jackson could save $1.2 million.
Extend LB Patrick Queen
Creates: $1,006,727 in salary cap space
Queen’s future in Baltimore is uncertain, but a short term extension could save the franchise $1 million.
