The NFL salary cap limit is approximately $133 million for the 2014 fiscal year, according to the NFL Players Association.
It's an increase of $10 million from last year.
Teams are allowed to carry over their salary cap space from last year, and the average carry-over from last year was $6.1 million per team. So, NFL teams will have an average of $139.1 million to spend on player salaries.
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Teams are required to spend an average of 89 percent of the salary cap in cash from 2013 to 2016. NFL teams league-wide are required to spend an average of 95 percent of the salary cap during that span.
"This creates a cash-spend floor, forcing historically low-spending clubs to offer overall competitive compensation for packages," the union said in a statement.
Teams are required to spend over $33 million in benefits, including pension, severance, workers compensation, insurance premiums and disability benefits.
The Ravens were roughly $27 million under the limit prior to tight end Dennis Pitta's five-year, $32 million contract. His first-year cap figure wasn't expected to be inordinately high.
The top 10 known salary cap figures on the Ravens' books for 2014 are nose tackle Haloti Ngata ($16 million), quarterback Joe Flacco ($14.8 million), cornerback Lardarius Webb ($10.5 million), running back Ray Rice ($8.75 million), offensive guard Marshal Yanda ($8.45 million), outside linebacker Terrell Suggs ($7.8 million), outside linebacker Elvis Dumervil ($3.375 million), defensive tackle Chris Canty ($3.166 million), punter Sam Koch ($2.8 million) and cornerback Jimmy Smith ($2.374 million).