The Ravens held a news conference to introduce Mike Wallace, a wide receiver with a two-year, $11.5 million deal. (Karl Merton Ferron, Baltimore Sun video)
The Ravens finalized a free-agent deal with wide receiver Mike Wallace yesterday. Today, safety Eric Weddle is scheduled to take a physical, meet with team officials, and if all goes well, he'll make his four-year contract with the AFC North team official.
Below is a look at their individual contracts:
Wallace's deal was reported as a two-year, $11.5 million pact. However, it's essentially a one-year, $5.75 million agreement with an option for the 2017 season. The Ravens will have until the end of the 2016 league year to decide whether to pick up his $5.75 million option for 2017.
Wallace will get $4.5 million in guaranteed money in the form of a signing bonus and a base salary of $1.25 million this season. If the Ravens pick up his option for 2017, Wallace will have a base salary of $4.75 million and he'll also be due a $1 million roster bonus on the fifth day of the 2017 league year.
If the Ravens don't pick up his option, they'd likely be eligible for a compensatory selection in 2017 if Wallace signs elsewhere.
As for Weddle, he'll sign a four-year, $26 million deal that includes $13 million in guaranteed money. The maximum value of the deal is $29 million.
The guaranteed money comes in the form of a $7 million signing bonus, a $1 million roster bonus in 2016, his $1 million base salary in 2016 and his $4 million base salary in 2017, which is guaranteed for injury only at the time of the signing.
Weddle's base salary over the years of the contract is $4 million in 2017, $6.5 million in 2018 and $6.5 million in 2019. He'll also get a $1 million bonus for making the Pro Bowl team in each season from 2017 to 2019.
For Wallace, his 2016 salary cap number is $3.5 million. For Weddle, his cap number is $3.75 million. With both factored in, that would mean that the Ravens have a little over $4 million of cap space available.