Ravens restructure Jimmy Smith’s salary, create $5.15M in cap space

Lately, it’s felt the Ravens were operating with an unlimited cap. They signed big deals in free agency, signed a full rookie class, then continued to sign players throughout the offseason. Their most recent addition, Austin Howard, caught a three-year, $15 million deal. We finally find where they found the money to pay the right tackle.

This is the second restructure in as many years for the Ravens top-flight cornerback, Jimmy Smith. In 2016, a similar move was made, converting $6 million in base salary to bonus, creating $4.5 million in cap to work with. Below, you’ll find the original story.

The Ravens are tight to the cap as is, and this gives them some (very small) breathing room. As Jeff Zrebiec mentioned on Twitter earlier, this isn’t to create much room besides being under the cap.