Ravens restructure contract of DL Michael Pierce
The Baltimore Ravens have been making moves to get below the NFL’s salary cap threshold after the team put the non-exclusive franchise tag on quarterback Lamar Jackson. The team needs to be cap compliant by the time free agency rolls around, and Jackson’s $32 million cap hit means they need to free up money elsewhere.
In an effort to get below the NFL’s salary cap threshold ahead of free agency, the Ravens restructured the contract of defensive lineman Michael Pierce, saving close to $3 million. Pierce was lost for the year early in the 2022 season with an arm injury after playing well for the Baltimore defense.
#Ravens NT Michael Pierce took a $2 million pay cut as part of a contract restructure that cleared $2.668M. He can earn back the difference in incentives.
Same for #Vikings DT Ross Blacklock, who took a roughly $683K cut and can earn it back through a playtime incentive.
— Tom Pelissero (@TomPelissero) March 10, 2023
2/ This tho is a very minor use of void years and will add just $167K onto Pierce’s Cap # in 2024 and $501K (3 x $167K) on the Cap as dead money in 2025 when the void contract voids. If Pierce is cut in 2024, then the void yrs would hit then & add $668K to his dead money.
— Brian McFarland (@RavensSalaryCap) March 10, 2023
The move comes just a day after playmaking safety Chuck Clark was traded to the New York Jets, and is a clear indication that Baltimore is squarely focused on getting their finances in order. They’ll need to free up a significant amount of cap space to hopefully sign other contributors outside of Jackson during free agency.
Pierce’s contract adjustment also entails three void years that were added to the back end of his deal to enable the team to free up space. How this might affect the Ravens’ financials moving forward is unknown, as the full details of the restructure haven’t been released. Still, this move is yet another indication that Baltimore is dead-serious in their pursuit of building a roster that can contend for a Super Bowl championship in the near future.