Baltimore Ravens have cut Ray Rice from their roster, just a few hours after a video of the running back punching his wife surfaced online. An NFL spokesman also announced that Rice has been suspended indefinitely from the league.
The shocking footage showed Rice dragging his then-fianceé's (surprisingly, now wife) unconscious body out of an elevator.
Rice still had one game left to serve of his three-game suspension for domestic violence but his contract has officially been terminated by the NFL franchise. The Ravens made the announcement on their official Twitter account.
The #Ravens have terminated RB Ray Rice's contract this afternoon.
— Baltimore Ravens (@Ravens) September 8, 2014
While getting Rice off the books will undoubtedly improve the image of the Ravens, it comes at a huge financial cost. The Ravens pick up $3,529,412 of 2014 salary cap room by releasing Ray Rice (two game suspension previously factored in). However, there's $9.5 million of 2015 dead $. Rice will count 4.75 million in 2014 and 9.5 million in 2015 against Ravens' cap despite no longer being on their roster.
Ray Rice will not receive his 2014 salary as a vested veteran. You must be on 53-man roster at the start of the season to be entitled to this, Rice was suspended at this time. The Ravens will also have difficulty recouping bonus money from Rice because his contract was terminated.
Hat tip: Reddit
