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The Ravens are a team many opposing front offices are enjoying watch squirm, with their reputation for hubris and stubbornness – much like the Orioles – catching up to them.
And with the franchise carrying one of the least enviable payroll, roster and contractual situations into the trade deadline next week, they are going to get solicited for select veterans. Whether they think its beneath them or not.
At 4-5, in a four-game losing, allowing 33 points or more in three straight games with one of the worst defenses on the planet and going four in a row failing to score even 14 points for the first time in franchise history with a rookie coordinator they called a genius all summer, they are going nowhere. Two-time MVP quarterback Lamar Jackson has them completely by the throat with how his contract is structured ($84M cap hit next season with a no-trade and no-tag provision) and they not only have the worst salary cap situation in te NFL right now, they have by far the worst projected cap in 2027.
And there are no easy solutions until or unless they get Jackson extended, and even a trade before June 1 would wreck their cap ($74M cap hit), and a trade after June 1 means they are carrying him into the League Year in March counting $84M against the cap and giving them scant chance to build a roster. NFL GMs are baffled by their trade for Cam Jurgens as we reported on in real-time, and two who have looked at their cap situation believe they are essentially handcuffed in 2027 no matter what they do at this deadline.
“It’s not the worst I’ve ever seen,” one GM said, “but the quarterback (Lamar Jackson) makes it unique. They are at his mercy, really ... They have a bunch of really bad contracts they’re going to have a hard time getting out of. They’re pretty screwed. It’s really bad.”
Our friend Mark Levin, who helped Jackson negotiate his contract extension (and explained the uniqueness of that process on the “The Daily Flock” in May) while running the salary cap and administration department of the NFL Players Association, is studying the situation for us as well. Levin oversaw the cap for the Washington Commanders prior to that and is a unique expert on these matters and went over every key Ravens contract with us this week.
“It’s definitely a mess,” he said when asked him for some historical perspective on how the Ravens cap currently looks for 2027 and 2028. “I don’t think that I could say I’ve never seen anything like it … But this is not going to be an easy fix. They're in a really tough spot.”
The Ravens can’t restructure their way out of it, the voidable years bills are coming due whether they cut their legion of bad players on bloated contracts or trade what they can, and the league is watching closely while the coaches they fired are exceeding expectations with the Giants and Browns. So what do other execs think that means for the deadline?
The general consensus is that, given general manager Eric DeCosta’s track record and how they are trying to sell this season as not the disaster that it is, and the fact they have some injuries to hide behind, it’s viewed as unlikely they sell close to as aggressively as probably warranted. Owner Steve Bisciotti would have to be fully on board, and DeCosta has already made desperate moves, giving away fourth-round value just Friday to complete a trade for benched journeyman QB Jacoby Brissett.
“DeCosta won’t sell,” said a high-ranking official from a team that has faced the Ravens this season and does not think highly of their talent or contract situation whatsoever. “To him that’s a sign of weakness … He started making panic moves in October. Those guys are completely full of (garbage).”
The GM said: “What do I think he’s going do? He just added Brissett. That’s telling you, isn’t it? … Nobody he thinks he’ll really be a seller. I don’t see it.”
As to who the industry believe the Ravens should be moved – Derrick Henry top the list. After 17 carries for 57 yards Thursday; right at the abysmal 3.4 yards/carry he has averaged the last four weeks behind a broken offensive line while leading the NFL in carries at age 32, this is over. Multiple execs told me the Ravens could get a fourth-round pick for him, most likely, perhaps with contingencies for more based on his production with the new team.
“It’s not going to work for him there without Lamar,” the exec noted. “They can’t win up front.”
Henry would still count $15M in dead cap next year even if dealt.
The contract makes this complicated – DeCosta really did a number here. Stanley is struggling with penalties and he doesn’t seem comfortable in this new offense and has played unsure. But left tackles with his pedigree aren’t everywhere and there are plenty of contenders who could find a spot for him and maybe some even wondering how he might fare on the right side if need be. Without having to worry about protecting Jackson’s blindside anymore now would be a great time to find out what young tackle Carson Vinson could do.
Our pal Marty Hurney, longtime NFL GM, who joined us on “The Daily Flock” this week, believes the Ravens could get a fourth-round pick for Stanley (assuming teams are okay with medicals; a big issue for him in the past). Other execs have implied the same, but this is another player the GM has made a favorite over the years, so there is skepticism he’d do what needs to be done. Like the rest of this, we only saw this coming back in the spring (as explained on April 13).
Oh, and Stanley will count $28M in deal cap in 2027 if dealt, so there’s that.
He was a bottom 10 starting corner in the NFL last year by any measure and rather than pay him $4M to leave DeCosta paid him $19.3M to obliterate the locker room and secondary yet again. Pays to be one of his made men! Spoke to a member of the Jaguars organization a little but before Thursday’s game. Here’s what he said.
“We are coming right after 44 (Humphrey). (Head coach) Liam (Coen) is going to attack him. He has a target on his back every week … Everybody threw on him and the other guy (Nate Wiggins) all last year. What are they doing over there?”
Good question.
Humphrey was beat for 50 yards by a blocking tight end off the jump. Nobody is paying him $7.5M for the rest of the season. I suggested a total salary dump in exchange for Joe Milton before the season – that’s how devalued this player is everywhere except in Owings Mills (Jerry Jones might have taken on the salary). And he’ll count $12M against the cap in 2027 even when he’s gone as a free agent (good luck with the comp pick there).
Maybe he wants to stay on this sinking ship in what the 40-year-old said was almost certainly his final NFL season. He is incredibly close with defensive coordinator Anthony Weaver, and loved his first sting in Baltimore, but brings elite leadership and is a world-class teammate and on a functional defense as part of a decent rotation, he can provide value.
“Who wouldn’t want Calais on their football team,” the exec said, noting the return would be minimal.
Campbell would not count against next year’s cap if traded.
The GM said: “He doesn’t do much for me. They like him a lot more than we ever did … I guess you could something for him.” Hurney told us on “The Daily Flock” this week getting anything for Bateman would be addition by subtraction. A real front office would explore it vigorously and maybe let fourth-round pick Elijah Sarratt actually be active for some of this embarrassing defeats.
Bateman would count $8M in dead cap next year is dealt.
The Ravens are stuck with Mark Andrews (he can't even handle a direct snap now) and will have to pay him $5M guaranteed next year no matter what and eat $16M in dead cap to cut him. DeCosta being petty and bratty over Isaiah Likely not taking his offer really blew up in his face.
Roquan Smith still due $10M this season negates any chance of moving him unless the Ravens took on a significant chunk of that total. “More than half, for definitely,” the GM said to have any chance to trade him. He’d still count $13M in dead cap in 2027 if they did. John Simpson being guaranteed $5.45M next year is nasty work by DeCosta – if they keep cap guy, Nick Matteo, after DeCosta is eventually fired, close up shop – and if they somehow ate enough of his deal to move him at the deadline that’s another $7M on their books next year in dead cap anyway.
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