OWINGS MILLS, Md. -- The Baltimore Ravens created $5.15 million of cap space by restructuring cornerback Jimmy Smith's contract, according to ESPN's Field Yates.
This was a much-needed move for Baltimore, which ranked second in least amount of cap room after signing offensive tackle Austin Howard last week to a three-year, $16 million deal. Smith's $12.6 million cap number -- which is now lowered to $7.45 million -- had been the second highest on the Ravens behind quarterback Joe Flacco.
The Ravens doubled their cap space with this restructured deal and now have a little more than $10 million in cap room, according to the ESPN Roster Management System.