Ravens clear more cap space as free-agent rumors fly

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After all but officially securing their first free-agent acquisition in veteran tight end Benjamin Watson on Tuesday, the Ravens were working on clearing additional salary cap space to add others on Wednesday.
Veteran cornerback Kyle Arrington accepted a pay cut to stay with the Ravens, a source confirmed. The 29-year-old is a Maryland native and Gwynn Park grad and wanted to remain close to home after previously being scheduled to make a $2.1 million base salary and carry a $2.766 million cap figure in 2016.
According to multiple outlets, the Ravens also converted $5.3 million of Marshal Yanda’s 2016 base salary into a bonus, a simple restructure that creates just under $4 million in additional cap space for 2016.
That maneuvering came as the Ravens were expressing interest in former Minnesota Vikings receiver Mike Wallace, according to NFL Network. The speedy 29-year-old was released on Tuesday and is coming off the worst season of his seven-year career in 2015, catching just 39 passes for 473 yards.
The same outlet also reported that Baltimore was looking into Pittsburgh left tackle Kelvin Beachum, who had his 2015 season cut short due to a torn anterior cruciate ligament in his left knee. The 2012 seventh-round pick has made 39 career starts for the Steelers over the last four seasons and is an unrestricted free agent.
According to Bleacher Report, the Ravens were also interested in free agent Rodney McLeod, but the former St. Louis safety agreed to a five-year, $37 million deal with Philadelphia on Wednesday afternoon.
Despite a number of free-agent deals around the league already being reported over the last couple days, the official signing period was set to begin at 4 p.m. on Wednesday.