- Jamison Hensley, ESPN Staff Writer
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The Baltimore Ravens reportedly paid running back Ray Rice $1.588 million to settle their grievance, which wraps up the team's financial fallout from one of the most embarrassing chapters in franchise history.
Here is the final tally on the Ravens' cap and wallet since the team released Rice on Sept. 9:
Dead money: $14.25 million. The Ravens carried $4.75 million in dead money in 2014 and $9.5 million in 2015. That total hit accounted for 5 percent of the Ravens' salary cap in those two years. There are only four players who counted more against the cap in 2014 and 2015 combined (defensive tackle Haloti Ngata, quarterback Joe Flacco, cornerback Lardarius Webb and guard Marshal Yanda), and Rice didn't play one snap for the team.
Jersey exchange: Estimated between $600,000 and $800,000. Team officials said they spent "six figures" in the Rice jersey exchange last September. Nearly 8,000 Rice jerseys were exchanged for those of other Ravens players.
Additional salary: $1.588 million. When the Ravens cut Rice, they knew the grim cap ramifications. The Ravens probably didn't expect to pay nearly half of Rice's salary for that season. As a result of the settlement, Rice collected $1.588 million from his grievance, or 44.9 percent of the $3.529 million he had been seeking. From a cap standpoint, the Ravens were charged $1.411 million in 2014 when Rice field his grievance and will receive a $177,000 cap charge in 2015.
What can't be counted is the toll this scandal took on the Ravens' reputation. In the end, the Ravens are probably lamenting that just as much as the millions lost.
"I think that we are a team and an organization that cares, obviously, about our reputation, and when it takes a hit, then you examine what you do," owner Steve Bisciotti said last month. "I think specifically if you go back to the Ray Rice thing, we certainly are more aware. We’ve been able to tap resources in the community that have furthered our knowledge, our sensitivity and our responsibility. And I do think that for the Ravens and then society in general, I think it is a positive, and it’s our obligation to turn that negative into a positive. I’m very encouraged that all we have to do is be aware and be sensitive, and we will do a job that Baltimore is proud of going forward.”
Here is the final tally on the Baltimore Ravens' salary cap and wallet since the team released Ray Rice on Sept. 9: