According to ESPN’s Field Yates, the Baltimore Ravens have restructured left tackle Ronnie Stanley’s contract. The team converted $8.465 million in base salary into a signing bonus, freeing up $6.35 million in 2022 cap space.
According to OverTheCap.com’s Jason, the Ravens stood around $760k after practice squad estimates.
Based on where rosters stand right now the teams who should need to create cap space by next Tuesday (cap space includes PS estimates):— Jason_OTC (@Jason_OTC) August 31, 2022
1. Giants: -$4.6M
2. Lions: -$2.6M
3. Jets: -$2.6M
4. Patriots: -$1.7M
5. Eagles: -$185K
6. Rams: -$22K
7. Ravens: $760K
This move generates much-needed cap space for the practice squad and regular season moves; Per Russell Street Report’s Brian McFarland, it was necessary.
This was somewhat unexpected, but necessary. With more guys going on IR & needing Cap space for PS (~$4M), PS elevations (~$900K), adding 52/53 to Cap (~$1.5M) & having funds for in-season injuries ($5M), the ~$9M they had b4 yesterday wasn’t enough. 1/ https://t.co/Ow8YuctfIh— Brian McFarland (@RavensSalaryCap) August 31, 2022
McFarland also believes this move means the Ravens have given up on signing quarterback Lamar Jackson to a contract extension.
3/ This move also means that they’ve given up hope of reaching a deal w/ Lamar since an extension for a Lamar would have created this needed space and they would not have needed to restructure Stanley.— Brian McFarland (@RavensSalaryCap) August 31, 2022
The restructure to Stanley’s deal does create a bit of concern if Stanley never fully recovers. McFarland notes the Ravens would be on the hook for $35 million in dead money in 2023 if he were to be cut, In 2024, it falls to a still-hefty $17.84 million.
Most indications surrounding Stanley have been positive. He received a second surgery to repair what was unsuccessful the year prior. On Friday, August 26., he passed his physical, meaning he’s eligible to practice. The only concern now is his absence the past two days in practice after being medically cleared to participate.