They did not make an offer to Jones, who signed a five-year, $33 million deal with the Indianapolis Colts. They knew another team would give Jones more than they were willing to pay. But they also knew that if he signed elsewhere they could receive a compensatory pick — likely a fourth-rounder or a fifth-rounder — in 2015.
"I think the thing that Ozzie and company have done so well over time is that they value their free agents at a certain price and they stay with that price. They don't move with the market and chase the market," former NFL general manager Bill Polian, now an analyst at ESPN, said on a recent conference call. "Ultimately, when you draft well and you exercise restraint in free agency, you end up with a pretty good situation. And that's what they've done."
The NFL began awarding compensatory picks in 1994. Since then, the Ravens (formerly the Cleveland Browns) have received 41 of those picks, the most in the NFL.