The Ravens are $1.729 million under the NFL salary cap limit of $120.6 million.
Only three teams have fewer salary cap space than the defending AFC North champions: the San Francisco 49ers ($522,243), Atlanta Falcons ($1.151 million) and the Pittsburgh Steelers ($1.262 million).
Meanwhile, former Ravens offensive lineman Howard Barbieri has filed an injury grievance against the AFC North club.
Barbieri was released prior to training camp.
He was injured throughout the offseason, dealing with a lower back ailment.
Barbieri played collegiately at Rutgers.