Brian McFarland of RussellStreetReport.com reports that the Ravens restructured the contract of CB Jimmy Smith in recent days.
- According to McFarland, the Ravens reduced Smith’s $7 million base salary to $1 million, creating $4.5 million in available cap space for the 2016 season.
- The $6 million difference was paid out to Smith in the former of a signing bonus that will be prorated over the course of four years.
The Ravens recently restructured G Marshal Yanda‘s contract for some cap relief and got CB Kyle Arrington to take a pay cut, so they’re clearly positioning themselves to have some cap room.
Smith, 27, is in the second year of his five-year, $54.89 million contract that included $21 million guaranteed. He was set to make a base salary of $7 million for the 2016 season.
In 2015, Smith appeared in all 16 games for the Ravens and recorded 54 tackles, one sack, three interceptions with one being returned for a touchdown and 10 pass defenses.
Looking for the latest NFL Insider News & Rumors?
Be sure to follow NFL Trade Rumors on TWITTER and FACEBOOK for breaking NFL News and Rumors for all 32 teams!
