Field Yates of ESPN reports that the Baltimore Ravens recently restructured the contract of CB Jimmy Smith and in turn created $5.15 million in cap space.
The Ravens accomplished this by converting $7.725 million of Smith’s $8.5 million base salary into a signing bonus.
Smith, 29, is a former first-round pick of the Ravens back in 2011. He’s currently in the second year of his five-year, $54.89 million contract that includes $21 million guaranteed and is set to make base salaries of $8.5 million and $9 million over the next two years.
In 2016, Smith appeared in 11 games and recorded 32 tackles, no interceptions and four pass defenses for the Ravens. His season ended with him being placed on injured reserve.