It promises to be a busy offseason for the Baltimore Ravens, who have several unrestricted free agents and salary-cap decisions to make. With the Ravens’ free-agency tracker, we’ll update all notable moves by the team throughout the offseason.

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March 12

LB Patrick Queen agrees to three-year contract with Steelers

A day after losing safety Geno Stone to the Bengals, the Ravens watched another of their top free agents join a hated division rival. Queen’s deal with the Steelers is reportedly a three-year pact worth $41 million. It’s a bit smaller of a deal than what was expected for Queen, who was one of the top inside linebackers on the market. 

However, the Ravens were never really a threat to re-sign Queen because of their tight salary-cap situation and what they’ve already invested in fellow inside linebacker Roquan Smith ($20 million per year). The Ravens also have a potential internal replacement for Queen in 2023 third-round pick Trenton Simpson.

Queen, though, will certainly be missed. The 2020 first-round pick started every game over four seasons with the Ravens, amassing 454 tackles, 13 1/2 sacks, four interceptions, five forced fumbles, six fumble recoveries and a defensive touchdown.

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Steelers, Patrick Queen agree to 3-year deal

Ravens agree to deal with RB Derrick Henry

Roughly five months after the Ravens nearly landed Henry in a pre-trade deadline move with the Titans, they finally got their man, agreeing to terms with the top remaining running back available, sources close to the negotiations confirmed. It’s a two-year, $16 million deal with $9 million guaranteed and an additional $4 million available in incentives.

Henry is coming off his fourth Pro Bowl season with the Titans after rushing for 1,167 yards and 12 touchdowns in 2023. The 30-year-old topped the 1,000-yard mark for the fifth time in his eight seasons in Nashville.

Henry was 38th in The Athletic’s rankings of the top 150 free agents. He is the first outside free agent to agree to terms with the Ravens since the negotiation window opened on Monday. Running back was one of the team’s biggest needs with Gus Edwards, who agreed to terms with the Chargers, J.K. Dobbins and Dalvin Cook all hitting the free-agent market this week.

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Derrick Henry agrees to terms with Ravens on 2-year deal: Source

LB Del’Shawn Phillips agrees to one-year deal with Texans

The Ravens had some interest in keeping Phillips, the 27-year-old linebacker who led the team in special teams snaps last season. However, the Texans made him a bigger priority, ending Phillips’ two-year run in Baltimore. Phillips finished last season with 24 tackles, a forced fumble and a fumble recovery. He played in every game and made one start as Baltimore opted to rest middle linebacker Roquan Smith in Week 18 against Pittsburgh.

The Ravens did reach an agreement with linebacker/core special-teamer Malik Harrison Monday night. However, Phillips’ departure further thins a linebacker group that could lose Patrick Queen, too.

March 11

Offensive guard John Simpson agrees to two-year deal with Jets

Ravens officials knew they had to rebuild their offensive line this offseason. They declined to sign veteran right guard Kevin Zeitler before his contract was voided, allowing him to hit the free-agent market. They also learned Monday that Simpson, who started every game for the team at left guard, has agreed to terms on a two-year deal with the Jets with a max value of $18 million, his agent Kyle Strongin confirmed.

The Ravens have three potential Simpson replacements on their roster: second-year guard Malaesala Aumavae-Laulu, who Simpson beat out during the preseason for the starting left guard job; 2023 seventh-round pick Andrew Vorhees, who missed his entire rookie season as he recovered from a knee injury; and 2021 third-round pick Ben Cleveland, who has started seven games over his first three seasons.

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Ravens agree to terms on one-year deal with LB Malik Harrison

Harrison has long been a favorite of Baltimore’s coaching staff because of his versatility. He’s been a core special-teamer, playing the second-most special teams snaps on the team last season. He started eight games last year at strong-side linebacker, where he was a strong edge setter against the run. He also was one of the Ravens’ backup options at inside linebacker.

Baltimore’s list of free agents included inside linebackers Queen and Phillips and outside linebackers Jadeveon Clowney and Kyle Van Noy. It always felt like Harrison was one of the more likely Ravens unrestricted free agents to stick with how much they value his skill set.

😁 https://t.co/b9PLjmE1w3 pic.twitter.com/63ZrvjheH7

— Malik Harrison 💂🏾‍♂️ (@Leek_39) March 12, 2024

CB Ronald Darby reportedly signs two-year deal with Jaguars

The Ravens’ day-one exodus of free agents continued with reports that Darby, who had a strong 2023 season in stepping up for an injured Marlon Humphrey, has verbally agreed to a two-year, $10 million deal with the Jaguars. Signed during training camp last year after Humphrey was sidelined following foot surgery, Darby played in 16 games for the Ravens, starting seven. He had seven pass breakups and was stingy in coverage.

Darby, 30, was one of three free-agent corners for Baltimore, joining Rock Ya-Sin and Arthur Maulet. He seemingly was the one the Ravens most likely wanted to re-sign. However, they apparently have other ideas at one of the game’s most important positions.

WR/RS Devin Duvernay agrees to two-year contract with Jaguars

Duvernay, a two-time Pro Bowl selection as a return specialist, moves on after a season in which he struggled with injuries and faded out of the team’s offensive game plan. In 13 games, he had just four receptions for 18 yards and four rushing attempts for 15 yards. Duvernay did average 12.6 yards on punt returns and 19.3 yards on kickoff returns.

Duvernay was a third-round pick by the Ravens in 2020 and made his biggest mark on special teams with two kick return touchdowns over his first three seasons. However, the Ravens were never able to fully take advantage of his offensive skill set (he had 94 catches for 898 yards and five touchdowns in four seasons) and injuries seemed to cost Duvernay some of his explosiveness over the past two years. His deal is a two-year, $8.5 million pact that could be worth as much as $12.5 million, a source with knowledge of the negotiations confirmed to The Athletic’s Jeff Howe.

Safety Geno Stone agrees to two-year deal with Bengals

After Stone’s breakout 2023 season that saw him lead the AFC with seven interceptions, it was widely expected that he’d be playing elsewhere in the coming seasons. The Ravens have an established safety pair in veteran Marcus Williams and Kyle Hamilton, an All-Pro last season. They are also tight against the salary cap. A high-quality No. 3 safety is more of a luxury than a necessity.

However, Stone landing with the divisional-rival Bengals will add another interesting wrinkle to the ascending Baltimore and Cincinnati rivalry. According to multiple reports, Stone’s deal is for $15 million over two years. It’s a well-deserved reward for Stone, who has been cut and non-tendered multiple times before he became a key part of one of the league’s best defenses in 2023. General manager Eric DeCosta recently said Stone might be the best seventh-round draft pick in team history.

Bengals signing safety Geno Stone to two-year, $15M deal. (via @rapsheet) pic.twitter.com/gKnQVtqT2Q

— NFL (@NFL) March 11, 2024

RB Gus Edwards agrees to two-year deal with Chargers

The Ravens said they were interested in re-signing Edwards, but it didn’t happen. Edwards became the latest player to take advantage of the surprisingly quick-moving running back market as he agreed to a two-year deal with the Chargers, where he’ll reunite with former Ravens offensive coordinator Greg Roman.

Edwards, a former undrafted free agent whose power running made him a key cog in the league’s most reliable rushing attack in recent seasons, set career highs in rushing attempts (198), rushing yards (810) and touchdowns (13) in 2023, but averaged a career-low 4.1 yards per carry and also fumbled a career-high three times.

Running back, meanwhile, remains a huge need for the Ravens with both J.K. Dobbins and Dalvin Cook eligible for free agency.

March 8

Ravens agree to four-year, $98 million extension with DT Justin Madubuike

Just three days after using the franchise tag on Madubuike, the Ravens agreed on a new contract with the 26-year-old defensive tackle, a move that checks off one of DeCosta’s stated priorities and also creates some much-needed salary-cap space. The franchise tag counted $22.1 million against the salary cap and put the Ravens over by about $10 million. However, Madubuike’s new contract was structured with a much lower 2024 cap number, leaving DeCosta with a little less work to do to be cap-compliant by Wednesday’s start of the new league year.

In terms of average per year, Madubuike becomes the second-highest-paid interior defensive lineman in football, behind only the Los Angeles Rams’ Aaron Donald ($31.67 million average per year). Madubuike’s breakout season — he led all interior defensive linemen with 13 sacks after having only 8 1/2 over his first three NFL seasons — came at the perfect time.

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Feb. 18

Ravens sign WR Nelson Agholor to one-year, $3.75 million deal

Agholor had modest numbers in his first season as a Raven with 35 catches for 381 yards and four touchdowns, and he added another touchdown catch in the postseason. But the Ravens loved the leadership he brought to the locker room and a young wide receiver corps, and they appreciated how he took advantage of the few opportunities he did get.

There are questions about the future of Odell Beckham Jr., and Devin Duvernay is a pending free agent. DeCosta made it clear earlier this offseason that he didn’t expect to engineer another overhaul of the wide receiver room. Bringing back the 30-year-old Agholor offers the continuity he wants.

(Photo of Derrick Henry: Peter van den Berg / USA Today)