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USA Today Sports Media Group
USA Today Sports Media Group
Sport
glenn erby

2024 NFL offseason: Details on key dates and Ravens contract options paid out

With free agency off to a roaring start, the Ravens and 31 other NFL teams have started financially retooling to advance to the 2024-25 postseason.

Prior to free agency, we looked inside at key offseason dates starting with the first week of the 2024 league year, which began March 13.

Some dates will free up cap space for Baltimore, while others force GM Eric DeCosta to make hard decisions.

Here’s a look at the key dates and players impacted.

March 17

LAS VEGAS, NV – FEBRUARY 8: Lamar Jackson of the Baltimore Ravens poses for a portrait after winning MVP at the 13th Annual NFL Honors on February 8, 2024 in Las Vegas, Nevada. (Photo by Todd Rosenberg/Getty Images)

This was the deadline for the Ravens to exercise an option for quarterback Lamar Jackson that’ll add a dummy year to his contract.

Baltimore made a $17.5 million payment to the MVP that’ll reduce Jackson’s 2024 base salary from a fully guaranteed $31.75 million to a fully guaranteed $14.25 million.

Jackson’s 42.75 million base salary was guaranteed for injury. $22.5 million of the $42.75 million was fully guaranteed at signing. The remaining $20.25 is fully guaranteed. Jackson’s injury guaranteed $750,000 2025 workout bonus is also fully guaranteed.

March 17

BALTIMORE, MARYLAND – JANUARY 28: Roquan Smith #0 of the Baltimore Ravens reacts during the first quarter against the Kansas City Chiefs in the AFC Championship Game at M&T Bank Stadium on January 28, 2024 in Baltimore, Maryland. (Photo by Patrick Smith/Getty Images)

This was the deadline for the Ravens to exercise an option for linebacker Roquan Smith’s 2027 contract year worth $16 million.

Baltimore paid $12 million to lower Smith’s fully guaranteed $18 million 2024 base salary to $6 million.

Smith’s $15 million 2025 base salary was guaranteed.

March 17

BALTIMORE, MARYLAND – JANUARY 28: Mark Andrews #89 of the Baltimore Ravens reacts during the first quarter against the Kansas City Chiefs in the AFC Championship Game at M&T Bank Stadium on January 28, 2024 in Baltimore, Maryland. (Photo by Patrick Smith/Getty Images)

Ravens tight end Mark Andrews was paid a $4 million roster bonus due.

March 18

Sep 28, 2020; Baltimore, Maryland, USA; Kansas City Chiefs tight end Travis Kelce (87) is tackled after his catch in the first quarter by Baltimore Ravens cornerback Marlon Humphrey (44) at M&T Bank Stadium. Mandatory Credit: Mitch Stringer-USA TODAY Sports

Cornerback Marlon Humphrey has a $6.5 million injury guarantee that vests to a full guarantee for skill, cap, or injury.

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