The Baltimore Ravens released running back Ray Rice on Monday afternoon and he was suspended indefinitely by the league, following the release of video that shows Rice punching and knocking out his then fiancee and now wife, Janay Rice.
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Baltimore made the right move — and really a move that they had to make — regardless of the financial implications.
As the fallout from Rice’s release continues to come filing in, we have learned more about what the team will have to do in terms of the salary cap following Rice’s release.
According to Adam Schefter on ESPN SportsCenter, the Ravens owe Ray Rice zero money despite the running back having three years remaining on his deal.
However, the Ravens will still have to carry around dead salary cap space.
In 2015, Rice would be on the team’s salary cap for $9.5 million.
Here is a breakdown of the cost for the Ravens to release Rice, via RussellStreetReport.com:
"However, a post-June 1 release will cause dead money – a lot of it – to hit in 2015. With a post-June 1 release, the Ravens only have to count this year’s bonus proration of $4.75M against the Cap in 2014, but the remaining $9.5M would then hit against the 2015 Cap."
The good news is that Rice will not receive any money from the team.
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