The Ravens have reached a financial arrangement with the Jacksonville Jaguars to account for a majority of the salary of newly-acquired left offensive tackle Eugene Monroe, according to two league sources.
Under the agreement, the Ravens will pay $547,000 of the remaining $2.91 million left this season on Monroe's $3.8 million base salary. The $547,000, to be paid through 13 weekly game checks, reflects Monroe's new salary-cap figure and the remaining proration this season from a minimum base salary of $715,000.
The Jaguars will pay $2.35 million, receiving fourth-round and fifth-round draft picks in exchange for the 2009 first-round draft pick from the University of Virginia. And Monroe receives that $2.35 million in a bonus from the AFC South franchise.
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The Ravens' tight salary-cap situation made this type of deal necessary in order to complete the trade. They are $1.213 million under the NFL salary-cap limit of $123 million and will have $666,000 once the Monroe trade is finalized with the NFL management council.
Monroe flew into Baltimore on Wednesday night and will take his physical Thursday morning, the final step necessary to finalize the trade.