Ravens’ latest cap move creates flexibility, but you shouldn't mistake it as a looming omen of a bigger domino

The conversion of a salary into a signing bonus allows a team to space out the salary cap charge across multiple years. The best players to exercise this strategy with are players in the prime of their careers with significant amount so of "base salary" in their contract. Smith wasn't the best he's ever been in 2024, but he certainly qualifies for both of those criteria.

With this move, the Ravens should consider themselves to have ample wiggle room for the regular season. That includes practice squad budgeting, which can cost over $4 million per season in additional salaries and spending, plus have the Ravens covered in the event that they need to add talent throughout the course of the regular season amid injuries.

With $10.5 million in cap space, personnel additions of any kind should be considered on the table, but this isn't the kind of major domino that should be considered a looming omen of a major move on the horizon. Instead, it should be viewed as good bookkeeping with the right kind of player to ensure you don't get caught off guard when the season throws the first curveball.

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