Don deal;  The Baltimore Ravens have just added another top player to their squad.

Don deal;  The Baltimore Ravens have just added another top player to their squad.

The Rule of 51 Salary Cap commitment for the aforementioned 54 players totals $236,909,075 (including dead money from players who are no longer with the team). We advise you to save our frequently updated 2024 Salary Cap spreadsheet to your bookmarks.

According to current estimates, the salary cap for 2024 will fall between $240 and $250 million, with a likely total of $245 million. This would represent a $20.2 million increase over the $224.8 million 2023 Cap. The Ravens will undoubtedly hope that it stays at $245 million and that it doesn’t drop any further.

With 45 players currently under contract, the Ravens will have roughly $10,228,830 in cap space at first (including the $2,137,905 carryover in 2023) based on the estimated $245 million cap. However, bear in mind that by mid- to late-February, that number will drop to 49 if no contract extensions are reached with the five (5) players (Zeitler, Edwards, Agholor, Ya-Sin, and Stone) whose contracts are void.

This will serve as the foundation for many of the initial reports regarding the Ravens’ 2024 salary cap situation. Although that doesn’t sound all that bad—certainly better than for many other NFL teams—it’s crucial to remember that this figure is based on only the 45 players who are currently under contract, and it’s by no means indicative of the team’s cap when the roster is full.

For that reason, the Ravens have a lot of work ahead of them with numerous pending free agents and a very tight salary cap between now and Wednesday, March 13th at 4:00 p.m., when the new league year and free agency begin.

SQUAD FREE AGENTS (FAs) IN PRACTICE
At the conclusion of the season, the Ravens had seventeen players on their practice squad and one on practice squad injured reserve. Nine (9) of these players were re-signed to “Future” contracts for 2024 on Monday. The remaining eight PS players will become free agents on Monday if they are not re-signed by then.

Adams, S. Andrew

Dan Chesina, wide receiver

Melvin Gordon, RB

Ben Mason, FB/TE

Kevon Seymour, CB

Tre Swilling, CB

WR Laquon Treadwell

Josh Wells, an OL

These players will agree to one-year contracts worth $795K, $915K, $985K, or $1.055M, which is the relevant league minimum salary.

UNIQUE RIGHTS ERFAs, or FREE AGENTS
Players who have fewer than three (3) years of service time (accrued seasons) in the league are considered ERFAs. The player must receive an ERFA tender from the Ravens by Wednesday, March 16th, the first day of the league season, in order to be retained. The player will receive a one-year contract with the applicable league minimum salary ($795K, $915K, $985K, or $1.055M), contingent on the length of service in the league. These players are completely under the team’s control once they are tendered, and they are not allowed to negotiate with other teams.