The Baltimore Ravens are flying high this season at 8-4, fresh off a hard-fought 30-23 victory over the Los Angeles Chargers. Their offense, led by Lamar Jackson and Derrick Henry, continues to dominate. Dubbed the “Greatest Show on Grass,” the Ravens lead the league in yards per game (426.7) and rank second in points per game (30.3).
They’ve been a nightmare for opposing defenses, combining explosive plays with efficiency that keeps the chains moving.
But as we celebrate the team’s on-field success, Black Friday serves as a perfect time to check in on their salary-cap situation. With limited room under the 2024 cap, the Ravens will need to get creative in the offseason to maintain their roster’s competitiveness.
Baltimore’s 2024 salary-cap snapshot
As of now, the Ravens have $2,005,575 in cap space, ranking 30th in the league. Here’s how their cap allocation breaks down:
- Total Cap Allocations: $251,754,819 (15th in the NFL)
- Dead Cap: $22,126,083 (28th)
- Reserve Lists (Injured/Practice Squad): $8,572,780 (31st)
The team’s highest cap hits include:
- Lamar Jackson: $32.4 million
- Marlon Humphrey: $22.88 million
- Marcus Williams: $18.72 million
- Ronnie Stanley: $17.1 million
- Mark Andrews: $16.9 million
These five players alone account for over 40% of the team’s total cap allocation.
Big Contracts and Key Challenges
Lamar Jackson’s deal leading the way
Lamar Jackson, the face of the franchise and arguably the frontrunner for MVP, carries the team’s largest cap hit at $32.4 million. While Jackson’s performance has justified every penny, his deal sets the tone for the team’s financial flexibility or lack thereof.
Veteran investments paying off... mostly
Players like Derrick Henry and Mark Andrews have delivered on their contracts, contributing to Baltimore’s high-powered offense. However, the defense has struggled in some areas, raising questions about the value of deals like Marcus Williams’ $18.72 million cap hit.
Dead cap dragging Ravens down
The $22.1 million in dead money from previous roster decisions has severely hampered Baltimore’s ability to make in-season moves or add depth.
Looking ahead to 2025
Baltimore’s 2025 cap situation offers some breathing room:
- Projected Total Allocations: $261,606,965 (9th)
- Cap Space: $13,773,610 (26th)
- Dead Cap: $8,691,147 (14th)
With the cap expected to rise and some dead money clearing off the books, the Ravens will have slightly more flexibility next year. However, retaining key players like Ronnie Stanley and Brandon Stephens, and addressing depth concerns will require careful planning.
The Baltimore Ravens’ Black Friday wishlist
While the Ravens’ roster is stacked with talent, there are clear needs they’ll need to address for 2025 and beyond. A lack of cap space this year means their “shopping spree” might involve internal restructures, extensions, or cuts to create room. Here’s what might be on their wishlist:
- Defensive Line Depth: Strengthening the pass rush and shoring up run defense has to be a priority.
- Defensive Back support: Baltimore's pass defense has been abhorrent this season. They'll need internal development, as well as a big FA signing to get this unit back on track.
- Offensive Line Depth: The Ravens must address the interior offensive line as a priority. They have struggled all season, and not one of their starting guards figures to be a future stalwart at their position.
As the Ravens continue their march toward the playoffs, their cap constraints will be a subplot worth monitoring. For now, they’ve built a contender, but the financial balancing act looms large as they look to sustain their success in 2025 and beyond.