Following the Ravens' trade for offensive tackle Eugene Monroe and financial arrangement with the Jacksonville Jaguars, the defending Super Bowl champions are $1.033 million under the NFL salary cap limit of $123 million.
Monroe has a salary cap figure and remaining salary of $546,764 that the Ravens are responsible for. The Jaguars picked up the remaining $2.359 million of his original $3.8 million salary. The $2.359 million was paid to Monroe by the Jaguars and the 2014 year of his contract has been voided.
Although tight end Billy Bajema was released Thursday to create a roster spot for Monroe when the trade became official, he's still due his $840,000 base salary as a vested veteran and counts $555,000 against the salary cap under the veteran minimum salary benefit
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The top salary-cap figures on the Ravens roster are outside linebacker Terrell Suggs ($13.02 million), defensive tackle Haloti Ngata ($11.5 million), offensive guard Marshal Yanda ($7.45 million), cornerback Lardarius Webb ($7.385 million), quarterback Joe Flacco ($6.8 million), running back Ray Rice ($5.75 million) and offensive tackle Michael Oher ($4.95 million).