The Baltimore Ravens restructured the contract of cornerback Marcus Peters to create $3.5 million in cap space, according to Ian Rapoport of NFL Network.
Contract restructures to create cap space as the league year looms:— Ian Rapoport (@RapSheet) March 12, 2021
— #Saints WR Michael Thomas did a restructure, creating $8.7M of space.
— The #Raiders did the same with LBs Nick Kwiatkoski ($2.7M) and Cory Littleton (4.4M).
— The #Ravens restructured CB Marcus Peters (3.5M).
The move will give the Ravens a little more room to work with in free agency. As Jamison Hensley of ESPN pointed out, this move will basically cover the second-round tender of running back Gus Edwards, which is worth $3.4 million.
By restructuring CB Marcus Peters, Ravens created $3.5M in salary-cap space, which essentially covers the second-round restricted free agent tender of RB Gus Edwards ($3.4M). https://t.co/IlteYX8a2p— Jamison Hensley (@jamisonhensley) March 12, 2021
Subsequently, Peters’s cap number will now rise by $3.5 million for 2022.
In 2019, the Ravens acquired Peters in a trade with the Los Angeles Rams in exchange for a fifth-round pick and linebacker Kenny Young. Peters was named a first-team All-Pro after the season and signed a three-year, $42 million extension.
Peters has established himself as the most prolific ballhawk in the NFL. Since 2015, he has 31 interceptions, which is more than any other player. He also has an astounding seven defensive touchdowns.
The Ravens can create more cap space by restructuring the contracts of Ronnie Stanley, Marlon Humphrey, Justin Tucker, or Chuck Clark. In addition, they could potentially free up room by extending Calais Campbell or Brandon Williams.
The Ravens have $19.9M in cap space *AND* the ability to restructure/extend:— Baltimore Beatdown (@BmoreBeatdown) March 10, 2021
Ronnie Stanley (+$5.2M)
Marcus Peters (+$5.2M)
Marlon Humphrey (+$1.8M)
Justin Tucker ($1.6M)
Calais Campbell ($7.9M)
Brandon Williams (+$5.1M)
Enough to do as they please.