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Ravens have little cap room

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(Credits: The Baltimore Sun/Lloyd Fox)

The Baltimore Ravens rank third in smallest amount of salary cap space remaining, according to Jason La Canfora of NFL.com.

Only the Carolina Panthers ($623,978) and New Orleans Saints ($1.4 million) have less cap room than the Ravens, who are $1.7 million under.

General manager Ozzie Newsome knows what must be done in order to free up some cap space, get long term deals for quarterback Joe Flacco and running back Ray Rice. Flacco’s cap number is $8 million this upcoming season and Rice’s is $7.7 million, which accounts for about 12 percent of the team’s salary cap.

The sooner something gets done with Flacco and Rice, the better.

However, the situation is complicated, because it’s difficult trying to agree on each player’s worth. Flacco will likely get an average of  between $11-13 million per season (perhaps a six-year deal in the $70-80 million range), and Rice will probably command a deal similar to Houston’s Arian Foster’s five-year, $43.5 million ($20.75 million guaranteed).

As for the Ravens’ division rivals, the Cincinnati Bengals have the most cap space in the NFL ($20.5 million) and the Cleveland Browns have the fourth-most ($18.5 million). Meanwhile, the Pittsburgh Steelers, who began the offseason with worst cap situation of any team in the division, rank 17th in cap space ($5.8 million).