Since the start of the new league year, the Ravens have only signed one outside unrestricted free agent, when they added safety Kendrick Lewis on a three-year, $5.4 million contract.
All of their other deals have been re-signings of their own free agents, including running back Justin Forsett, defensive linemen Chris Canty, Christo Bilukidi and Lawrence Guy, safety Anthony Levine and long snapper Morgan Cox.
Under the NFL formula for awarding compensatory picks, the Ravens should be able to receive the maximum of four comp picks in the draft next year.
That formula factors in the financial details of free agents who leave the organization and sign with other teams.
In the case of wide receiver Torrey Smith (five years, $40 million, San Francisco 49ers), outside linebacker Pernell McPhee (five years, $39 million, Chicago Bears), tight end Owen Daniels (three years, $12.5 million) and quarterback Tyrod Taylor (three years, $3.35 million), it was already known that they had met the financial requirements.
Now that the details of safety Darian Stewart's two-year contract with the Denver Broncos are known, it's clear the Ravens are currently set to get a compensatory pick for losing him.
Stewart signed a two-year, $4.25 million contract that included a $1.5 million signing bonus and $2.25 million in fully guaranteed money. His 2015 base salary of $750,000 is fully guaranteed, and he has a $2 million nonguaranteed 2016 base salary. The deal includes $250,000 in incentives this year and a 2016 escalator.
Since the NFL started its compensatory pick formular in 1994, the Ravens have received a league-high 41 compensatory draft picks.
The Ravens are expected to get at least three compensatory picks this year and possibly as many as four after losing the following players in free agency last year: defensive lineman Arthur Jones (five years, $33 million, Indianapolis Colts), offensive tackle Michael Oher (four years, $20 million, Tennessee Titans), cornerback Corey Graham (four years, $16.3 million, Buffalo Bills), safety James Ihedigbo (two years, $3.15 million) and tight end Ed Dickson (one year, $795,000, Carolina Panthers.