Lardarius Webb has restructured his deal with the Baltimore Ravens according to Aaron Wilson of the Baltimore Sun. $4 million of Webb’s $7.5 million base salary has been converted into a signing bonus. As a result, Webb’s salary cap figure has been reduced by $3 million, down to $7.504 million.

Wilson adds that the Ravens are now $6.95 million under the NFL salary cap. With nearly $7 million in wiggle room, what’s next?

Josh Alper of wonders if a contract extension is looming for one of the team’s current players.

If there’s an immediate reason for the Ravens to want extra cap space, it could be to sign an extension with one of the team’s other players. Defensive tackle Haloti Ngata, wide receiver Torrey Smith and kicker Justin Tucker are a few of the candidates for a new deal and the Ravens could use their new cap space to reach a deal with one or more of those players.

Earlier today, the Ravens added veteran corner Derek Cox to their banged up secondary.

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