On Friday, the Ravens officially released safety Tony Jefferson. As a result, the Ravens will save $7 million in cap space this offseason.
Now, the Ravens are estimated to have $31.4 million in cap space, according to Over the Cap. That number could continue to rise. They could save another $6 million in cap space by moving on from cornerback Brandon Carr.
In addition, they could save another $2.75 million by cutting recently suspended offensive lineman James Hurst. Hurst will serve a four-game suspension for violating the league's performance-enhancing substance policy.
Most significantly, the front office is still awaiting Marshal Yanda's decision on retirement. The Ravens will, of course, save money if Yanda retires, but losing the eight-time Pro Bowler is far from ideal. Additionally, they would just have a new need to fill on the offensive line.
At the present moment, the Ravens have $31.4 million to work with. If they are able to re-sign pass rusher Matthew Judon, he will command a large portion of that total sum. Spotrac lists Judon's market value at $16.3 million per season. Plus, the front office needs to maintain some cap space to sign their draft picks. Currently, Over the Cap estimates it will cost the Ravens $7.965 million to sign their rookie class.
The front office will have important decisions to make on Carr and Hurst moving forward. For now, moving on from Jefferson gives them some needed flexibility.