Following their one-year contract with inside linebacker Daryl Smith, the Ravens are now $3.583 million under the NFL salary cap limit of $123 million.
Smith signed a $1.125 million contract that includes an $840,000 base salary and a $285,000 signing bonus, per a source. The deal has a maximum value of $2.125 million through a reachable $1 million playing time incentive clause.
The Super Bowl champions regained $2.5 million in salary cap space after designating former strong safety Bernard Pollard as a post-June 1 release back in March.
Although the Ravens cut Pollard before he was due a $500,000 roster bonus, the cap charge was still technically being accounted for on the books.
The Ravens have two remaining unsigned draft picks: first-round safety Matt Elam, who is being advised by his older brother, Abram Elam, and has yet to hire an agent after interviewing several, and third-round defensive tackle Brandon Williams.
Elam is slated to sign a four-year, $6.767 million contract that will include a $3.301 million signing bonus with a first-year salary-cap figure of $1.203 million.
Williams told The Baltimore Sun that he expects to sign his deal in the next few weeks.
He's due a four-year, $2.697 million deal that will include a $515,000 signing bonus and will carry a $533,750 first-year salary-cap figure.
Out of the Ravens' rookie salary-cap pool figure of $5.517 million, they've now used $3.753 million (68.03 percent) and have $1.764 million for the Elam and Williams deals.
The top salary-cap figures on the roster include outside linebacker Terrell Suggs ($13.02 million), defensive tackle Haloti Ngata ($11.5 million), offensive guard Marshal Yanda ($7.45 million), cornerback Lardarius Webb ($7.385 million), quarterback Joe Flacco ($6.8 million), running back Ray Rice ($5.75 million), offensive tackle Michael Oher ($4.95 million), fullback Vonta Leach ($4.33 million) and inside linebacker Jameel McClain ($4.2 million).
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