Baltimore Ravens salary cap 2023: How much cap space does Baltimore have?

The Baltimore Ravens finished last season with a 10-7 regular-season record and a second-place berth in the AFC North. However, they were knocked out of the playoffs by the Cincinnati Bengals in the wild-card round.

The Ravens showed signs of fragility when their first-choice quarterback Lamar Jackson missed the last month of action due to a knee injury. However, John Harbaugh needs to sort out his team's salary cap by March 15.

The salary cap for the 2023 NFL season is set at $224.8 million, which is a $20 million increase from the previous campaign. According to reports, Baltimore has $10,298,315 in cap space on the eve of NFL free agency.

One of the key decisions that the Ravens will make during the offseason will surround quarterback Lamar Jackson. The quarterback has not agreed to fresh terms with the team as his contract is set to expire. On Tuesday, Jackson took to Twitter to hint that he turned down a three-year, $133 million offer from the Ravens.

Reports claim that the 26-year-old is seeking a contract in the general vicinity of the five-year, $230 million fully guaranteed deal that Deshaun Watson signed with the Cleveland Browns.

However, the Ravens have not been able to meet Jackson's expectations and have placed their non-exclusive franchise tag on the two-time Pro Bowler.

Baltimore Ravens' biggest contracts ahead of NFL free agency

Baltimore Ravens QB Lamar Jackson

Here's a look at the five Baltimore Ravens stars who are tipped to make the most money (cap hits) for the 2023 season:

1. QB Lamar Jackson — $32,416,000 (franchise tag)
2. LT Ronnie Stanley — $23,668,250
3. CB Marlon Humphrey — $19,993,800
4. TE Mark Andrews — $13,657,611
5. RG Kevin Zeitler — $9,475,000

The Ravens will also have five picks in the 2023 NFL draft, starting with the 23rd pick in the first round. However, they will not have a second-round pick after trading it to the Chicago Bears in exchange for linebacker Roquan Smith.