Placing the franchise tag on Thomas will guarantee him $7.2 million this year. However, the Ravens only have $3 million available to spend. They are expected to clear about $3.3 million by cutting running back Jamal Lewis.
From the Baltimore Sun:
Asked if the Ravens have to make cap room to use the tag, general manager Ozzie Newsome said today: "We have not made a decision yet."
Asked if the Ravens' salary-cap situation would influence what the team does regarding Thomas, Newsome said: "Sure it does. But we have not made a decision."
The deadline to use the tag is February 22.