Ravens Restructure CB Lardarius Webb’s Contract, Free Up $3M In Cap Space

 

Tom Pelissero of USA Today reports that the Baltimore Ravens have restructured CB Lardarius Webb‘s to create some additional cap space.

• According to Pelissero, the Ravens converted $4 million of Webb’s $7.5 million base salary into a signing bonus. This in turn freed up $3 million in cap space for the 2014 season.
• Aaron Wilson mentions that Webb now has a $3.5 million base salary for 2014, and will receive $2 million up front with the remaining $2 million prorated over the remainder of his contract.
• Wilson adds that the future years included in Webb’s deal were unaffected by this restructure.

The Ravens had $3,734,583 in available cap space coming into today, so that number will increase quite a bit in the coming days.

Baltimore is now $6.59 million under the NFL salary cap following this move.

Webb, 28, is entering the third year of his six-year, $52.742 million contract that included a $10 million signing bonus. Last year, he appeared in all 16 games for Baltimore and recorded 74 tackles, two interceptions, and 23 pass defenses.