The Ravens provided the league with a major headline yesterday with the signing of Odell Beckham Jr. The value of his deal – up to $18MM via incentives on the one-year pact – has raised many eyebrows, considering the lack of competition Baltimore appeared to have regarding such a lucrative offer.
Beckham’s base compensation will be $15MM this season, a cumbersome figure for a Ravens team which remains unsure if they will have franchise-tagged quarterback Lamar Jackson this season, and if he will be on the books on the tag or a long-term deal. Given the team’s tight (and relatively uncertain) cap situation, carrying the full cost of the Beckham deal in 2023 would be highly problematic. 
As a result, Jeff Zrebiec of The Athletic notes that the contract will surely include void years (subscription required). Taking that route – one which the Ravens have begun recently in some of their other deals – would allow the team to spread out Beckham’s cap hit over several years. While it would create significant dead money down the road, it would lessen the impact on Baltimore’s cap sheet for this season, one in which a definitive answer to the question of Jackson’s financial future is all-but guaranteed to be found.
A contract including void years was also long contemplated by the Jets, per CBS Sports’ Josina Anderson (video link). Beckham was scheduled to visit the Jets today, which could have led to a deal being agreed upon shortly thereafter, especially if all parties were convinced an Aaron Rodgers trade will take place at some point this offseason. They do not appear to have been willing to reach the level the Ravens did with any potential offer, though.
Mike Florio of Pro Football Talk reports that New York was eyeing a Beckham deal featuring a low base salary and high upside through incentives – essentially the inverse of what the three-time Pro-Bowler landed in Baltimore. The Jets had been considered the frontrunners to land Beckham, 30, given Rodgers’ desire to team up with him in the Big Apple, but it was reported in the immediate aftermath of the Ravens accord that they had chosen not to match what Baltimore put on the table.
The same is true of the Giants, per ESPN’s Jordan Raanan (Twitter link). Incentives would have been central to any offer for a reunion with Beckham, given the team’s new financial commitments to Daniel Jones and Saquon Barkley in particular, and the uncertainty which surrounds Beckham’s ability to produce coming off multiple ACL injuries. In the end, Baltimore’s efforts to pursue the former first-rounder (which dated back to last season to an extent, and continued throughout his 2023 free agent process) stood out against those of other teams.
Anderson tweets that Ravens owner Steve Bisciotti was a central figure in the team’s push to land Beckham. Baltimore has a long-standing reputation for failing to attract high-profile wideouts, and this latest move represents a sizeable financial investment which carries significant risk. Regardless of what effect it has on Jackson, it could prove to be a beneficial one for the team’s offense, or a misstep which ends up confirming the lack of interest showed elsewhere in the NFL to make such a notable commitment.