The Ravens have waived S Michael Huff and DE Marcus Spears according to multiple sources. Both players were signed to multi-year contracts this offseason by the Ravens after they had been released by the Raiders and Cowboys respectively.
The timing of the release is likely due to the waiver process I had discussed yesterday as neither had been effective at any time this season. Both players are vested and thus eligible for Termination Pay. For Huff that would mean the Ravens would have to pay him the balance of his $850,000 salary, which is $400,000. For Spears the number is slightly higher at $423,529. If claimed the Ravens would no longer be required to pay those amounts. The Ravens would have likely released both sooner if veteran waivers was not a consideration. The Ravens are very smart with their management and this is another way in which they stand out even if neither player is claimed.
Both signings were misfires by the Ravens. Huff was given a $1.5 million dollar signing bonus on a three year contract and had only played 97 snaps on the year. Huff currently counts for nearly $3.3 million in dead money on the Raiders salary cap and will count for $6.2 million in dead money next season in Oakland. His dead charge for the Ravens next season will be $1 million, making him one of the most expensive safeties in the NFL in terms of cap, despite likely never playing a down for another team. Spears was given a $600,000 signing bonus on a two year contract. His cap number for Baltimore will be $300,000 in 2014.
Jason is the founder of OTC and has been studying NFL contracts and the salary cap for over 15 years. Jason has co-authored two books about the NFL, Crunching Numbers and the Drafting Stage, which are widely circulated in the industry and hosts the OTC Podcast. Jason’s work has been featured in various publications including the Sporting News, Sports Illustrated, NFL Network and more. OTC is widely considered the leading authority on contract matters in the NFL.