According to multiple sources, including the Ravens website, Free Safety Will Hill III is being released today.
One initial reason, as seen in ESPN writer Jamison Hensley's tweet, is that it creates $2.84 Million in cap space.
Ravens released safety Will Hill after officially signing Eric Weddle, according to a source. It creates $2.84... https://t.co/69PlMlUHBF
— Jamison Hensley (@jamisonhensley) March 16, 2016
Hill was the top graded defensive back on the Ravens team according to Pro Football Focus. This includes corners along with the safeties.