NFL Network Insider Ian Rapoport reported Tuesday the Baltimore Ravens are releasing the running back for salary-cap reasons, per a source informed of the decision.
Woodhead was set to earn $2.55 million in 2018. Cutting the running back saves Baltimore $1.8 million on the cap, per Over The Cap.
The Ravens are tight against the salary cap, with a little more than $5.5 million before recent moves.
The dual-threat Woodhead signed a three-year $8.8 million contract in Baltimore last offseason but played in just eight games after suffering a hamstring injury in the opening week.
It appeared the Ravens had big plans for the jitterbug, as he touched the ball four times on the opening drive before leaving with the hamstring injury. Woodhead didn't have a large impact on a disappointing Baltimore offense upon his return late in the season.
At 33 years old and with a lengthy injury history -- he played in only 10 games over the past two seasons -- Woodhead might have to wait out the market and a deep draft at the position to land on a squad for 2018. When healthy, however, Woodhead provides a combination of toughness between the tackles and pass-catching ability desired from today's NFL running backs.