NFL teams went into the first week of free agency with money to blow.
The first 55 free-agent contracts handed out by NFL teams totaled more than $1 billion, according to the contract-monitoring service Spotrac.
But while teams doled out all that cash, the Ravens held onto their pennies.
They waited quietly on the sidelines as some of their key players found new homes for reported big money. Wide receiver Torrey Smith went cross-country to San Francisco on a $40 million contract. Outside linebacker Pernell McPhee cashed in with a $38 million deal. The Ravens even dealt veteran defender Haloti Ngata to Detroit in exchange for draft picks and relief on his $16 million cap hit.
Baltimore's biggest news from the first few days of free agency was a three-year deal with running back Justin Forsett reportedly worth $9 million, significantly less than some of the deals other running backs signed on the market. They also added safety Kendrick Lewis, re-signed defensive linemen Chris Canty and Lawrence Guy, and locked up some restricted free agents.
The Ravens have established a model of taking a prudent, cautious approach to free agency. And allowing the dust to settle from the initial spending spree has served General Manager Ozzie Newsome well throughout his tenure.
"The Ravens just do free agency smarter than almost everyone else," The MMQB’s Peter King wrote. "They do it by mostly sitting out the early days and allowing bottom-feeding teams to spend the silly money."
Now that the NFL has moved into the second week of free agency, Newsome may become more active, based on his history. The Ravens also now have some money to spend because of the Ngata trade and the reported restructuring of cornerback Lardarius Webb's deal.
Some of Baltimore's best signings in recent years have come at a bargain later in the process.
Here are some key signings from the past four years that Newsome made at least a week into free agency:
- Forsett (2014): started 14 games last season, earned Pro Bowl honor
- TE Owen Daniels (2014): started 13 games after Dennis Pitta was injured
- S Will Hill (2014): started 8 games in 2014 after serving suspension
- S Darian Stewart (2014): started 14 games in 2014
- OLB Elvis Dumervil (2013): set Ravens' single season sack record in 2014, earned Pro Bowl honor
- LB Daryl Smith (2013): full-time starter last 2 years, replaced legend Ray Lewis
- CB Corey Graham (2012): Played in 32 games during 2-year stint, key INTs in Super Bowl XLVII run
- WR Jacoby Jones (2012): earned Pro Bowl nod in 2012, scored key touchdowns in Super Bowl XLVII run, earned reputation as one of NFL's most-dangerous returners
- S Bernard Pollard (2012): started 29 games in 2-year stint, starter in Super Bowl XLVII playoff run
- OT Bryant McKinnie (2011): Started all 16 games in 2011, starter in Super Bowl XLVII playoff run
- FB Vonta Leach (2011): three-year starter in Baltimore, two-time Pro Bowler
Newsome and the Ravens will look to add more names to that list in the coming weeks. The team still has needs at wide receiver, tight end and cornerback, and Newsome stressed at the "State of the Ravens" press conference last month that he'll be looking for players across the board.
"We want to build as strong a football team as we can build," Newsome said last month.
With the new league year starting in two weeks, take a look back at some of the best Ravens' signings from over the years.
The Ravens' first big signing ended up in the team's Ring of Honor. McCrary was coming off a breakout season in Seattle, logging 13.5 sacks. Over his next six seasons with the Ravens, he netted 51 more sacks with an average of 8.5 per year.
Siragusa was an undrafted free agent who played his first seven seasons in Indianapolis. Newsome brought him to Baltimore and made him an anchor gobbling up double teams on the defensive line. "Goose" was an essential part of the Super Bowl XXXV defense.
Woodson was a longtime Pittsburgh Steeler who shifted allegiances. Woodson spent four years in Baltimore, notching 20 interceptions and being a leader for a very stingy secondary.
Ismail had yet to find his stride or become a starter in his first six seasons between Minnesota, Miami and New Orleans. Newsome signed him and Ismail started all 16 games and caught 68 passes for 1,105 yards and six touchdowns in his first year in Baltimore.
Landing the veteran Pro Bowler was huge. Sharpe was in his twilight years, having already played 10 seasons with the Broncos. But he was a massive part of the Ravens' Super Bowl-winning offense, putting up 810 receiving yards and five touchdowns in 2000.
Remember the run-stuffing force of the 2000 Ravens defense? Baltimore surrendered just 60.6 rushing yards per game in large part because big Adams was clogging the middle.
Brigance only played one year as a Raven, but was a key member of the special teams unit (he made the first tackle in Super Bowl XXXV). It started a long and inspiring career with the Ravens. Brigance has been the "heart" of the team for years as he battles ALS.
Grbac was coming off a Pro Bowl season in Kansas City, but he struggled in his one year in Baltimore, throwing 18 interceptions to 15 touchdowns and barely topping 3,000 yards.
The Ravens signed Searcy to a big six-year, $31.5 million deal to line up opposite Jonathan Ogden. But a left triceps injury kept him out for the entire year and he never played another game.
Anderson was waived by the Rams as an undrafted free agent, then played a year with the Chicago Enforcers of the now defunct XFL in the spring of 2001. The Ravens signed him that summer and he started all but seven games over the next four years.
The mammoth 6-foot-7, 360-pound man nicknamed "Zeus" spurned more lucrative offers to sign a one-year deal with the Ravens. He had been out of the NFL for two years after being hit in the eye with a referee's flag. Brown went on to start 35 games in Baltimore over three seasons.
Sanders had been retired for four years when he signed with the Ravens. He wasn't a full-time starter, but he brought his usual flair and nabbed five interceptions (one returned for a high-stepping touchdown) in two seasons.
Ravens fans were screaming for an accomplished wide receiver at the time, and Mason's signing fit the bill. He topped 1,000 yards in four of his six seasons in Baltimore, continuing a long legacy of production.
Newsome pulled off blockbusters on back-to-back days. Rolle was a former Pro Bowler who spent four years with Baltimore. He started 32 straight games and was highly productive in his first two seasons.
Pryce was a four-time Pro Bowler in Denver before coming to Baltimore for five years. He had one of the best years of his career in his first season, notching 13 sacks in 2006.
This was technically a trade and sign. The Ravens sent the Buffalo Bills three draft picks and inked McGahee to a six-year deal. McGahee was a workhorse in the Ravens backfield in 2007. Then Ray Rice came along. Still, McGahee found the end zone 35 times in his four years in Baltimore.
Anderson signed a reported three-year, $11 million deal that was backloaded to help the Ravens when they were in desperate need of a tackle. He played just one year before retiring, but started 11 games and helped get Baltimore to the AFC championship.
Birk was already a six-time Pro Bowler when he signed with the Ravens. He solidified the offensive line and helped quarterback Joe Flacco grow. Birk started every game during his four years in Baltimore.
This was technically a trade and sign, as the Ravens shipped third- and fourth-round choices to the Arizona Cardinals for Boldin. Boldin played three seasons in Baltimore, putting up an average of 881 yards per season. He was a huge reason why the Ravens took home the Lombard Trophy, as he scored three touchdowns and posted 164 receiving yards in the AFC championship and Super Bowl XLVII.
Redding was cast off from Seattle when he signed with the Ravens for two years and $6 million. He revived his career in Baltimore, starting for two years and providing a tough, physical presence in the trenches and respected veteran leadership in the locker room.
Housmandzadeh was near the end of his career when he signed a one-year deal worth $855,000. He was a successful third wideout, and caught the game-winning touchdown pass in a comeback win in Pittsburgh and finished with 30 catches for 398 yards and three scores.
Coming out of the lockout, the Ravens scooped up a Pro Bowl blocker for Rice. Leach went to two more Pro Bowls with the Ravens and spent three years in Baltimore before being released after the 2013 season.
The Ravens were again in need of a tackle by the end of training camp and they turned to McKinnie, who they got originally for two years and a reported $7.5 million. McKinnie started all 16 games in his first year with the team, then reclaimed his starting job in the 2012 playoffs just in time for a Super Bowl run.
Williams inked a reported two-year, $2.5 million deal and was a great change-of-pace back behind Ray Rice. The veteran, in his last year in the league, rushed for 444 yards and two scores. He was a solid mentor for Rice and fit into the locker room well.
Pollard wasn't an immediate starter when he arrived for two years and a reported $2.735 million. But he quickly showed he had the makeup of a Raven and became an intimidating force on the back end of the defense. He started 26 games in two years and helped the team win Super Bowl XLVII.
Jones was cast off by Houston after a muffed punt in the playoffs, and the Ravens got a bargain at two years for a reported $7 million. Jones has become a game-breaking threat as both a returner and wide receiver and will be remembered for some of the biggest plays in the Ravens' Super Bowl run.
Graham inked a two-year deal worth a reported $3.7 million and emerged as not only an excellent special teams player (he was a Pro Bowler in Chicago the year before), but a starting cornerback. He stepped in for injured Jimmy Smith in 2012 and made two critical interceptions of Peyton Manning in the divisional playoffs.
The infamous fax snafu led to Dumervil hitting the open market. The Ravens pounced, signing Dumervil to a five-year deal. The three-time Pro Bowler in Denver made an immediate impact with 9.5 sacks in his first season with the team and 17 sacks the year after. The Ravens signed him despite being tight against the salary cap.
Smith was a bargain at one year for a reported $1.125 million. He was a rock stepping in for departed Ray Lewis, starting all 16 games and leading the Ravens in tackles with 123. He notched five sacks and excelled in coverage with 18 passes defensed and three interceptions, and the Ravens retained him for two more years.
Smith Sr. was released after 13 seasons in Carolina and the Ravens quickly pounced. Baltimore liked his fiery competitiveness, toughness, leadership and experience. Even in his mid-30s, Smith paid big dividends as he put up a team-high 79 catches for 1,065 yards and added six touchdowns in his first season. His 2015 campaign was shortened by a season-ending Achilles tear, but he decided not to retire and posted one more memorable campaign in 2016.
Much like Smith Sr., Daniels came to the Ravens after his longtime team, the Texans, cut him following eight years. Daniels opted to follow coach Gary Kubiak to Baltimore. Stepping in for injured Dennis Pitta, Daniels had a strong season with 48 catches for 527 yards and four scores.
The Ravens struck gold with Forsett. His one-year deal seemed like a minor move at the time, but after Ray Rice was released, Forsett stepped into the starting role and had a Pro Bowl season, rushing for a career-high 1,266 yards and eight touchdowns and catching 44 passes for 263 yards. His 2015 season ended early with a broken arm, and he was released after three games played in 2016.
The Ravens aggressively went after the unrestricted veteran free agent (a move they don't often do), after he posted a career-high 825 yards and six touchdowns the previous season in New Orleans. Watson looked strong in training camp, but tore his Achilles tendon in the preseason, ending his first season with the Ravens before it started.
Wallace had been cut by the Minnesota Vikings just a week earlier, and the Ravens pounced. Wallace had something to prove after some frustrating seasons in Miami and Minnesota, and reasserted himself as a top-flight receiver in Baltimore. He topped 1,000 receiving yards for the first time since 2011 when he was in Pittsburgh, and was a valuable big-play threat
Weddle wasn't retained by the San Diego Chargers, and the Ravens, who were looking for a leader and playmaking safety on the back end, scooped him up after some aggressive recruiting. Weddle was a game-changer in Baltimore's defense, notching 89 tackles and a team-high four interceptions. One of his best career seasons ended with a trip to the Pro Bowl.
