The Baltimore Ravens are entering free agency with about $20 million in salary-cap room.
In the simplest terms, the 2014 salary cap is $133 million and the Ravens are projected to use about $113 million of it as of March 11. How did the Ravens get to that number? This is the breakdown: $104.1 million on 46 players under contract, $6.2 million in dead money (the pro-rated bonus left over by players cut after June 1) and $3 million on six exclusive rights free agents (who can be kept if they are tendered contracts, so they're technically not really free agents).
Here are the Ravens' salary cap figures for the 46 players under contract ($104.1 million total):
QUARTERBACKS (3): Joe Flacco ($14.8M), Tyrod Taylor ($671K) and Nick Stephens ($420K)
RUNNING BACKS (4): Ray Rice ($8.75M), Bernard Pierce ($709K), Kyle Juszczyk ($570K) and Cierre Wood ($495K)
WIDE RECEIVERS (6): Torrey Smith ($1.078M), Deonte Thompson ($571K), Aaron Mellette ($507K), Marlon Brown (497K), Kamar Aiken ($495K) and Gerrard Sheppard ($420K)
TIGHT ENDS (3): Dennis Pitta ($3.2M), Matt Furstenburg ($420K) and Nathan Overbay ($420K)
OFFENSIVE LINE (9): G Marshal Yanda ($8.45M), G-T Kelechi Osemele ($913K), G-T Jah Reid ($786K), C Gino Gradkowski ($691K), C-G A.Q. Shipley ($580K), OT Rick Wagner ($531K), C Ryan Jensen ($515K), OT David Mims ($495K) and C-G Reggie Stephens ($495K)
DEFENSIVE LINE (7): Haloti Ngata ($16M), Chris Canty ($3.16M), Pernell McPhee ($681K), Brandon Williams ($624K), DeAngelo Tyson ($582K), Kapron Lewis-Moore ($517K) and Cody Larsen ($420K)
LINEBACKERS (6): Terrell Suggs ($7.8M), Elvis Dumervil ($3.37M), Courtney Upshaw ($1.44M), Albert McClellan ($730K), Arthur Brown ($808K) and John Simon ($591K)
CORNERBACKS (4): Lardarius Webb ($10.5M), Jimmy Smith ($2.37M), Chykie Brown ($681K) and Asa Jackson ($604K)
SAFETY (1): Matt Elam ($1.53M)
SPECIALISTS (3): P Sam Koch ($2.8M), LS Morgan Cox ($855K) and K Justin Tucker ($570K)
Here are the other two major factors that impact the Ravens' salary cap:
EXCLUSIVE RIGHTS FREE AGENTS (who would account for a little over $3 million if all tendered): LB Josh Bynes, S Omar Brown, S Anthony Levine, S Brynden Trawick, LB Adrian Hamilton and LB D.J. Bryant.
DEAD MONEY (total is $6.2 million and here are the top five): S Bernard Pollard ($1.5M), LB Jameel McClain ($1.2M), S Michael Huff ($1M), OT Bryant McKinnie ($1M) and FB Vonta Leach ($580K).