Our Capologist, Brian McFarland, tweeted out several interesting Cap items today including the details of the Marcus Peters contract. I thought for the benefit of those on Twitter or even more importantly for those who are not, that I’d compile Brian’s tweets for an easy read. ~ Tony Lombardi
Some details of Marcus Peters’ new 3-year contract extension…
• $8M Signing Bonus
• 2019 salary reduced by $486,118
• Base salaries of $10M (‘20), $11,486,118 (‘21), $10M (‘22)
• $3M roster bonus in ’20 counts entirely towards the 2020 Cap number and therefore is not prorated, although the Ravens could convert the bonus in order to prorate if they choose.
Considering all of the above, the Cap numbers for Marcus Peters new contract are:
• 2020: $15M
• 2021: $13,468,118
• 2022: $12M
• This deal has a very flat structure to help reduce potential dead money in future, but also allows for restructuring if needed.
• The deal contains $32M in guaranteed money, $21M of which is fully guaranteed. The remaining $11M in guaranteed money (the 2021 base salary) is initially guaranteed for injury only. That amount becomes fully guaranteed on the 5th day of the 2020 League Year ($3M Roster Bonus is also due that day) if Peters is still on the Ravens’ roster (hint: he will be!).
• Ravens’ 2019 Cap space to end the regular season is only $300K, due to the first $2M proration of Peters’ $8M signing bonus. This isn’t terribly significant, but potentially lessens the dead money in future by getting that proration on the 2019 Cap.
• Ravens’ 2020 Cap space is now $33.8M. Still significant, but it includes only the 41 players presently under contract. The Cap space will reduce further when escalators and tenders for EFRAs/RFAs are added. Due to the recent extensions (Yanda, Tucker, Snead, Fort, Ricard and Peters), the Ravens are certainly comfortable, but not flush, with Cap space in 2020.
Creating More Cap Space
The Ravens can create more cap space with a few other moves.
• Releasing Tony Jefferson triggers a $7M Cap savings.
• Ronnie Stanley’s Cap number is $12.866M via the team exercised fifth-year option. Depending on the structure of a new long-term deal, Stanley’s 2020 Cap number could drop by $2-6M.
• If Marshal Yanda retires it would represent a $7M Cap savings.