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J. Smith, Arrington, Yanda Restructure AP Photo/Greg Trott (left); Getty Images (right)

Salary Cap J. Smith, Arrington, Yanda Restructure

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The past 24 hours has been busy for the Ravens. Since the start of free agency, they have been trying to create Cap space. We have no idea what the Ravens have up their sleeves, but the moves they’ve made would indicate that they are looking to sign someone.

Here is what has happened so far.

Jimmy Smith

The latest move was to restructure CB Jimmy Smith’s contract. The deal reduces his 2016 base salary from $7M to $1M. He will receive a bonus of $6M, which is prorated over the course of four years. The move creates $4.5M in additional Cap space.

Here is Smith’s restructured deal:

jsmith-rest

Marshal Yanda

Yesterday, Marshal Yanda restructured his contract. He converted $5.3M of his 2016 base salary to bonus money, which will be prorated over four years. The move creates $3.975M in additional Cap space.

Here is Yanda’s restructured deal:

Marshal Yanda restructure

Kyle Arrington

The details of Kyle Arrington’s pay cut aren’t known. But at this point, we expect that the deal could save up to $1.1M.

In total, the three deals should save the Ravens approximately $9.5M in Cap space.

Ben Watson

Those savings are slightly mitigated by the signing of Ben Watson. That signing cost $3M against the Cap minus the Rule of 51 offset for a Cap charge of $2.4M.

Ben Watson contract details

Conclusion

After considering the Smith restructure, the Yanda restructure, the Arrington pay cut, the Watson signing, and the RFA/ERFA tenders, the Ravens sit at approximately $11.147M UNDER the Cap.

cap -3-10

 

For the latest on the Cap, follow @RavensSalaryCap on Twitter.

Do you like how the Ravens have restructured contracts?

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Brian McFarland

About Brian McFarland

Known on Ravens Message Boards as "B-more Ravor", Brian is a life-long Baltimorean and an avid fan of the Ravens and all Baltimore sports.  A PSL holder since 1998, Brian has garnered a reputation as a cap-guru because of his strange (actually warped) desire to wade through the intricacies of the NFL's salary cap and actually make sense of it for those of us who view it as inviting as IRS Tax Code.      Brian, who hails from Catonsville, MD and still resides there, is married and has two children. More from Brian McFarland

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