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The Ravens’ approach to the initial wave of free agency has been on brand.
While other teams have gone on shopping sprees in a seller’s market, General Manager Eric DeCosta prioritized signing his own players (left tackle Ronnie Stanley, fullback Patrick Ricard, and reportedly wide receiver/special-teamer Tylan Wallace) and making selective additions (wide receiver DeAndre Hopkins, special teams ace/inside linebacker Jake Hummel).
The Athletic’s Jeff Zrebiec said it’s been a good week for the Ravens, but there is still “serious business” to be done.
“So far, the Ravens have done just fine. Better than that,” Zrebiec wrote. “Their personnel losses have been minimal, and they were winners in free agency at the very moment when they agreed to the three-year deal with Stanley. Navigating the next couple of months of roster-building without a bona fide left tackle on the roster would have been a nightmare scenario. Reaching an agreement less than 48 hours before Stanley hit an open market filled with offensive tackle-needy teams willing to hand him a blank check was clutch.
“So, with the first wave of free agency already over, where does that leave them? They still have several needs — cornerback, safety, inside linebacker and edge rusher stand out — and next to no cap space to fill them. That’s where the serious business comes in.”
Zrebiec noted that the Ravens will probably have to make moves to create more salary-cap space in the coming days.
One way to do so is by contract restructures, and that process has already started. According to Russell Street Report’s Brian McFarland, the Ravens have reworked cornerback Marlon Humprey’s contract to create more than $13 million in cap space.
The Ravens have done a max restructure w/Marlon Humphrey by reducing his $18M salary & roster bonus to the league min of $1.255M & converting $16.745M to a bonus. Two void yrs were added. Restructure creates $13.396M in 2025 cap space.
While restructures are helpful, Zrebiec said the Ravens “ultimately are probably going to have to check off some big-ticket items.” That could include a contract extension for Lamar Jackson.
“His 2025 cap number is $43.65 million, but it rises to $74.65 million in 2026 and 2027,” Zrebiec wrote. “The 2025 number is manageable. The 2026-27 one is not, meaning at some point within the next 12 months, the Ravens and Jackson will need to hammer out a new deal anyway. What better time than the present, when it would give DeCosta some much-needed salary-cap breathing room?”
Zrebiec said a contract extension for running back Derrick Henry also could help. Furthermore, he said the Ravens would “have to at least weigh the benefits” of trading tight end Mark Andrews “if they get an enticing offer.”
“To be clear, the Ravens don’t have to do anything with their standout tight end,” Zrebiec wrote. “Yet, Andrews is due a $4 million roster bonus on March 20, so a decision could come relatively soon.”
It bears repeating just how big re-signing Stanley to a three-year deal reportedly worth $60 million before the start of free agency is for the Ravens.
NFL.com’s Gregg Rosenthal said on “The Mina Kimes Show” that it speaks volumes about the Ravens’ culture that Stanley chose to remain in Baltimore rather than spark a bidding war on the open market.
“The Patriots I think were going to go over the top with money, but the Chiefs I think were building their offseason plan around signing Ronnie Stanley, and he chose to stay with the Ravens,” Rosenthal said. “They made him take a pay cut before last season. You have to be a pretty great organization from the top to the bottom, from the coaching staff to the administration, to make a dude take a pay cut and then the following year he’s taking maybe less money or at least he’s giving you the benefit of the doubt and wanting to stay home. This is how great teams can stay great, so I just love that.”
Kimes agreed, saying: “The Ronnie Stanley deal was my favorite of the entire free agency from a team perspective. I think this is a huge win for the organization.”
Both @greggrosenthal and I agree: The Ravens’ deal with Ronnie Stanley was one of the biggest wins any team had in free agency. We discussed why on the pod 👇
📺: https://t.co/PUdp4MUPch pic.twitter.com/e11EFxB2xX
NFL.com’s Kevin Patra also named the Ravens re-signing Stanley as one of the best moves of the opening wave of free agency.
“The top tackle heading into free agency isn’t even in the top 10 in per-year average salary among OTs. That’s a W for the organization,” Patra wrote. “The deal became a good one when the Ravens weren’t forced to get to a $23 million- or $25 million-per-year figure to retain their left tackle. I also like the short-term nature of the pact for both sides. The structure allows Baltimore to get out of the deal relatively free after two years if the injury bug respawns. Likewise, if Stanley stays healthy and keys a Super Bowl run in Baltimore, he can push for a re-up in 2027 when no guaranteed money is left.”
One item on the Ravens’ to-do list is signing a backup quarterback.
Journeyman Josh Johnson, who had the job last season, is a free agent. Other veterans on the market include former Ravens Joe Flacco and Tyler Huntley, Jameis Winston, Trey Lance, Drew Lock, Carson Wentz, Desmond Ridder, Cooper Rush, and Teddy Bridgewater.
Flacco returning to the Ravens would be a great story, but could it actually happen?
“I think they’d be all for it if the price was right,” Zrebiec wrote on X. “He’s beloved in that building. I don’t know if it’s something he’d be interested in. He’s never been the nostalgic type and if he’s still playing, he’s probably going to want to go to a place where he has better chance to start.”
Flacco reportedly met with the New York Giants Thursday.
After being released by the 49ers, free-agent Pro-Bowl FB Kyle Juszczyk is meeting today with the Pittsburgh Steelers.
The Steelers are still waiting to hear back from Aaron Rodgers. https://t.co/Wge4ZPxDLI
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