OWINGS MILLS, Md. -- A big reason why the Baltimore Ravens have among the smallest amount of salary-cap room in the NFL is that they are using a chunk of their space on players no longer on the team.

The Ravens are devoting 10 percent of their cap -- $16.7 million -- to players who have been cut before their contracts expired. Only the Los Angeles Chargers currently rank higher than the Ravens in "dead money."

This is what happens when a team invests some sizable money into players whose production falls off before the end of their contracts.

Former Ravens offensive tackle Eugene Monroe counts $4.4 million against the team's 2017 cap after being cut last offseason. AP Photo/David Richard

The biggest "dead money" hit on the Ravens this year comes from someone who hasn't played for the team since November 2015. Offensive tackle Eugene Monroe counts $4.4 million against this year's cap after being a post-June 1 cut last offseason, which allowed Baltimore to split his $6.6 million cap hit over two seasons.

How big is Monroe's cap hit on this year's team? Only nine players on the Ravens currently count more against the cap than him.

Monroe was cut just 27 months after the Ravens gave him $17.5 million in guaranteed money. All Baltimore got in return was 17 starts. He has since retired.

In total, there are five players who count more than $2 million in cap dollars and are no longer with Baltimore.

Dennis Pitta was the most unexpected "dead money" hit. Pitta was Joe Flacco’s favorite target last season after leading all tight ends with 86 receptions. But he fractured his right hip for the third time in five years this offseason and was released.

Pitta will count $2.7 million against this year's cap, which is the highest for any Ravens tight end outside of Benjamin Watson. Pitta also will account for $2.2 million in "dead money" in 2018 because he was cut after June 1.

The three other biggest "dead money" cap hits -- cornerback Shareece Wright ($2.66 million), linebacker Elvis Dumervil ($2.37 million) and center Jeremy Zuttah ($2.2 million) -- had disappointing seasons last year.

Wright allowed six touchdowns in 12 games played. Dumervil recorded a career-worst three sacks after coming back from an Achilles injury. And Zuttah often was pushed back by bigger defensive linemen. Baltimore cut Wright and Dumervil in March and traded Zuttah to the San Francisco 49ers.

The Ravens typically are in the middle of the league in "dead money." Baltimore has ranked in the top 10 only twice in the previous five years, and it came in at No. 14 in 2016.