SALARY CAP: Closing the Books on the Ravens’ 2025 Cap

There’s been some movement since last week’s offseason preview article. If you missed that, check it out here. 

SALARY CAP: Baltimore Ravens 2026 Offseason Roster Preview

Jenkins, Moore Sign Extensions

Like many teams, the Ravens like to sign players to extensions late in the season in order to get the first bonus proration from the player’s signing bonus into that year.  This allows for an additional year of bonus proration which helps lessen any future dead money if something (health, lack of performance) doesn’t work out later in the deal.

This year, the Ravens were able to get two (2) minor extensions taken care of with DT John Jenkins and LS Nick Moore.

Extension Updates:

JohnJenkins – 1 yr, $2M. $345K Signing Bonus, $1.3M salary, $50K workout bonus, $255K in per game roster bonuses. 2026 Cap # = $1,827,500. Only SB is gtd

NickMoore – 4 yrs, $6.415M. $1.2M SB, min salaries of 1.215M, 1.26M, 1.305M, 1.435M. 2026 Cap # = $1.455M

— Brian McFarland (@RavensSalaryCap) January 6, 2026

Those deals break down as follows:

Jenkins:

Moore:

Incentive Adjustment

Incentives are categorized by the league’s CBA as Likely To Be Earned (LTBE) if the player reached that statistical threshold in the prior season or as Not Likely To Be Earned (NLTBE) if the player DID NOT reach that statistical threshold in the prior season. LTBE incentives count on the present year’s Salary Cap and if unearned, will be credited back on the team’s Cap the following year.  NLTBE incentives do not count on the present year’s Cap, but if earned will count in the following year’s Cap as a negative adjustment.

In recent years, the Ravens have used a lot of incentives in their contracts and have often had a sizeable negative adjustment on their Salary Cap the following year.  One byproduct of having a bad year is that not a lot of players will earn their incentives.  That was absolutely the case for the Ravens in 2025.

(NOTE: There is an error in the below X thread – Dre’Mont Jones only earned $1M in incentives, not $1.25M as stated below.  Green did not reach 70% playing time and missed out on that additional $250,000 incentive.)

2025 Excess Cap Space Carryover

Pursuant the league CBA, teams can carry over excess Cap space from one year to the next.  The Ravens haven’t often carried a lot over from year to year, due largely to spending to the Cap and/or signing players to extensions in late December which use up some of that excess Cap space.

This year, barring some yet to be disclosed Cap adjustment, the Ravens will carry over more than $10M in excess 2025 Cap space into 2026.  This will increase their 2026 Cap space by that amount.

Unless there is an unknown adjustment still to be made, the Ravens will carry over $10,238,790 in unused 2025 Cap space into 2026. This will increase the Ravens’ adjusted Salary Cap by that amount. This is by far the most they have carried over since the $5.8M carryover in 2012.

— Brian McFarland (@RavensSalaryCap) January 12, 2026

Looking Ahead to 2026

The Ravens have signed eight players who finished the 2025 season on the Practice Squad to 2026 Contracts.

The Ravens have signed 8 of their 17 PS players to 2026 contracts. There will likely be a few more over the next wk. Those unsigned will be free to sign elsewhere next Monday. https://t.co/BKczwvxTN8 pic.twitter.com/vCmpUKZRgo

— Brian McFarland (@RavensSalaryCap) January 6, 2026

One of the few good things about missing the playoffs is that one of the conditions on the Dre’Mont Jones trade with Tennessee was not met, so the conditional 5^th round pick traded for Jones will NOT upgrade to a 4th round pick.

Yes, since the Ravens did not make the playoffs, the final condition of the Dre’Mont Jones trade was not met. TEN will still be receiving a 5th from the Ravens (via NYJ) and not an upgraded 4th. https://t.co/XZ5wUr32qE

— Brian McFarland (@RavensSalaryCap) January 5, 2026

Keep an eye out for whether the Ravens will reach extensions with DeAndre Hopkins and/or Tylan Wallace.  If no extensions are reached by March 2^nd, their contracts will void.

The Ravens have two contracts – DeAndre Hopkins & Tylan Wallace – that will void on March 2nd if no contract extension is reached before that date. If not, Hopkins will count as $2.996M in dead money on the 2026 Cap & Wallace will count as $744K in dead money. https://t.co/6iCdfefd21

— Brian McFarland (@RavensSalaryCap) January 6, 2026

Yes, for both, an ext would delay the acceleration of the bonus prorations that make up that dead money. Would still have to be dealt w/ in 2027 (or beyond depending on # of yrs of extension), but if extended only 1/4 of those amounts would count in 2026 (plus #’s from new deal).

— Brian McFarland (@RavensSalaryCap) January 6, 2026

The post SALARY CAP: Closing the Books on the Ravens’ 2025 Cap appeared first on Russell Street Report.