The Ravens ended the initial frenzy period with two key signings. Eric DeCosta nailed it, as he scooped up two players at key positions I identified early on as my top priorities. Here’s a quick review.
Morgan Moses
The Morgan Moses signing secures the right tackle position with a solid, dependable starter. Moses’ deal includes $5.5 million in total guarantees including a $4.38 million signing bonus. With a 2022 base salary of $1.12 million, Moses’ 2022 cap number is a mere $2.58 million.
This is a tremendous deal for the Ravens. Not only did Moses come cheaply (well below my expectation), but it’s hard to imagine a more cap friendly number. Kudos to Eric DeCosta on this one.
Signing Moses fosters additional flexibility for DeCosta going forward. For one, the pressure on the Ravens to draft an offensive tackle in the first round has eased. Yes, we still don’t know Ronnie Stanley’s status – we can only hope the Ravens do – but the Ravens now have three other veteran tackles on the roster. The draft is allegedly deep in offensive tackles (my analysis yet to come). The Moses signing now allows the Ravens to place their round one focus on their other remaining pressing needs: edge rusher, defensive line and, perhaps, cornerback.
One other note regarding Moses. I had previously pointed out that a Moses signing could lead to a release of Ja’Wuan James. His release saves $3 million on the cap. I still see this as a possibility, just not now. Depending on Stanley’s health and whether the Ravens draft a tackle (I expect they will at some point), James’ release could come this summer. At that point the Ravens might need the cap space for in-season moves.
Marcus Williams
I had identified early on that Williams was the top safety on the market, and the best pure free safety at that. It’s hard to know at this point exactly where his year one cap number lands. But the Ravens are giving him $37 million guaranteed over a five year amortization period (i.e., $7.4 million per year for cap purposes). And if I assume, say, a $2 million salary for 2022, his year one cap number will land right around $10 million. This is exactly as predicted. From a cap perspective this is “right player, right price” signing. But it’s more than just that.
Williams is an outstanding free safety. At age 26, barring injury, the Ravens should get Williams’ best days over the five year term of his deal. Free safety now becomes a long-term strength. In a division where the Ravens will have to beat Joe Burrow, Ja’Marr Chase, et. al for years to come, it was an absolute imperative for the Ravens to field a top-tier free safety. And Eric DeCosta nailed it with the signing of Williams.
So DeCosta Nailed It – Now What’s Next
The Williams and Moses signings combined consumed approximately $12.5 million of cap space. Clearly, more cap maneuverings are coming (look here for some contract restructures).
At this point do the Ravens have enough cap space left to nab Za’Darius Smith? I don’t think so, certainly not without making further moves (cutting Miles Boykin, contract restructures, etc.). Instead, I think the Ravens will try to bolster their defensive line (rumors of Eddie Goldman, for one).
Perhaps they will pursue a slot corner? And from among their lost free agents, I could see a later pursuit of Anthony Averitt depending on whether his market heats up. I assign a very low probability of a return for Pat Ricard (that’s why the Ravens drafted Ben Mason, and then brought him back). Calais Campbell and/or Justin Houston could possibly surface back in purple. And bringing back Bozeman just doesn’t make any sense from a cap perspective.
The very early free agency period bolstered the Ravens in two of their key areas of need. Stay tuned.
