The Ravens will be benefactors of the NFL’s 2024 salary cap increase
On Friday, the NFL announced the 2024 NFL salary cap will increase to $255.4 million, a $30 million increase. Many speculated it would be more toward $242.5 million, which while a respectable increase, would leave the Baltimore Ravens with a few challenges as they hope to retain key free agents. Now, with the extra money, the Ravens see themselves with currently $16.63 million in available funds.
The change stands to benefit Baltimore as Ravens General Manager Eric DeCosta has 27 unrestricted and street free agents pending new contracts. With the increase, there’s a higher chance of retaining some of their stars.
However, the new cap limit isn’t going to to see the Ravens splurge. They’re ranked No. 20 in cap space and their free agent list contains significant members from their 2023 team, including interior defensive lineman Justin Madubuike, pass rushers Jadeveon Clowney and Kyle Van Noy, and interior offensive linemen Kevin Zeitler and John Simpson, along with valuable depth in cornerbacks Arthur Maulet, Ronald Darby, Rock Ya-Sin and Kevon Seymour.
With Madubuike’s pricetag alone, the Ravens will need to make moves to retain the star, be it cutting those with big cap hits in 2024 like tackle Morgan Moses ($5.5 million saved), outside linebacker Tyus Bowser ($5.5 million saved) and fullback Patrick Ricard ($4 million saved), or restructures and pay cuts to their biggest names.
The Ravens will certainly be more capable of landing players in the free agency cycle, but it won’t be a shcok to see a more disciplined financial approach, something the Ravens practice over back-loading money. Eventually, it comes due and the Ravens are more interested in competing consistently than drowning in debt when the cap comes due.