In an announcement made on Friday, the NFL revealed that the 2024 NFL salary cap is set to rise to $255.4 million, marking a significant $30 million increase from the previous cap. This rise in the salary cap is expected to greatly aid the Baltimore Ravens in managing their upcoming contracts for the 27 unrestricted and street free agents on their roster.

With the increase in the cap, the Ravens now have approximately $16.63 million in available funds to negotiate contracts for key players like interior defensive lineman Justin Madubuike, pass rushers Jadeveon Clowney and Kyle Van Noy, and interior offensive linemen Kevin Zeitler and John Simpson, as well as valuable depth in their cornerback position.

The extra money provided by the salary cap increase gives the Ravens a higher chance of retaining some of their star players, although they currently rank at No. 20 in cap space. To secure Madubuike alone, the team will need to make strategic moves, such as potentially cutting players with significant cap hits like tackle Morgan Moses, outside linebacker Tyus Bowser, and fullback Patrick Ricard, or seeking restructures and pay cuts from other key players.

While the added salary cap room opens up opportunities for the Ravens to explore free agency, they are likely to adopt a cautious and disciplined financial approach to ensure long-term sustainability and success rather than overspending. The team aims to compete consistently while managing their financial obligations sensibly for the future.