The Ravens have reportedly cleared even more salary-cap space.
According to ESPN's Field Yates, the Ravens turned $6 million of cornerback Jimmy Smith's $7 million 2016 base salary into a signing bonus.
When added to the nearly $4 million in cap savings from guard Marshal Yanda's restructure Wednesday, plus the $6 million savings from quarterback Joe Flacco's extension, that gives the Ravens about $14 million to use in free agency. Cornerback Kyle Arrington also reportedly accepted a pay cut, but it's unclear by how much at this point.
Suddenly, a team once tight against the salary cap has a little breathing room.
In previous years, General Manager Ozzie Newsome has restructured contracts in May, giving him more flexibility to sign draft picks and players that become available after post-June 1 cuts. This offseason, Newsome has cleared space before and during the first wave of free agency.
Now the question is what Newsome will use the money for.
Smith signed a four-year deal in May of 2015, putting him under contract through the 2019 season. According to Sportrac, his cap hit jumps to $12.6 million next season before finishing at $13.6 million.
