A week after the Ravens traded one of the best players in franchise history because of a negotiating impasse, veteran cornerback Lardarius Webb is reportedly staying put.
According to CBS Sports, the sides agreed to renegotiate what remains of a six-year, $50 million contract signed in 2012. Originally scheduled to make $8 million in base salary in 2015, Webb will instead receive $6 million, which would appear to lower his cap figure from $12 million to $10 million for the coming season if no other maneuvering was done.
Armed with less than $8 million in cap space before the signing of veteran safety Kendrick Lewis to a three-year deal, the Ravens knew they would need to clear more cap room to make further additions this offseason. Webb can now make roughly $18 million over the final three years of his deal if playing-time incentives are reached, according to The Sun. This would indicate Webb’s scheduled base salaries of $8 million in 2016 and $8.5 million in 2017 were also reduced.
The restructuring appears to be a reasonable compromise after the sides had been negotiating for weeks. Coming off a disappointing 2014 campaign even by his own admission, Webb will still receive a $6 million base salary, which would currently be the 13th-highest in the NFL for 2015. However, a look at the bloated contracts a number of cornerbacks have received in free agency indicated there would have been a good market for Webb despite his underwhelming play.
Had the Ravens cut Webb, they would have received only $2 million in cap savings, which is what they’ll pick up with the adjusted contract while still retaining the 29-year-old defensive back’s services. A release with a post-June 1 designation would have saved the Ravens $8 million in space, but those resources would not have been available until long after most free agents of any substance had already found homes.
General manager Ozzie Newsome traded five-time Pro Bowl defensive tackle Haloti Ngata to the Detroit Lions last week after the sides failed to agree to a contract extension to reduce a $16 million cap hit for the 2015 season.