CBA ratified; Ravens get back to business (updated with Ravens' cap situation)

It's finally over.

The owners and players have officially signed off on a new collective bargaining agreement, meaning we can put the whole labor mess behind us. The 2011 league year has officially started and all players under contract are now able to participate in practice.

The Ravens pushed back their 1:30 p.m. practice time to wait on the ratification of the CBA. By waiting, the Ravens allowed the free agents they've signed since July 26, as well as their restricted and exclusive rights free agents, to practice with the team.

Had the 1:30 p.m. session gone on as scheduled, those guys would have needed to miss another day of practice.

All NFL teams now have until 4 p.m. tomorrow to get under the $120 million salary cap.

According to ProFootballTalk.com, the Ravens are currently $3,558,000 under the cap. Among teams that have cap space, that's the sixth-lowest amount of spending flexibility, although five teams - including the Steelers - are currently over the cap.

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