The Baltimore Ravens cleared nearly $10 million in cap space last week by restructuring the contracts of cornerback Jimmy Smith and guard Marshal Yanda and reducing the pay of cornerback Kyle Arrington.

This suggests the Ravens are going to make a couple of key moves in free agency to improve last season's disappointing 5-11 team.

Will it be receiver Mike Wallace? Safety Eric Weddle? A left tackle?

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Wallace, 29, one of the fastest targets available, is scheduled to visit Baltimore on Monday. The Ravens have been interested in Wallace since his release from the Vikings last week, envisioning him as another deep threat option along with Breshad Perriman. But Baltimore reportedly only wants Wallace at a "low-budget deal."

Weddle, 31, a three-time Pro Bowl safety, has been linked to the Ravens, along with the Steelers, Cowboys and Raiders. While Baltimore probably has too many safeties on its roster, the quality doesn't match the quantity. Weddle has been a dynamic and consistent playmaker for the Chargers and would represent an upgrade over Will Hill, Kendrick Lewis and Lardarius Webb. The Ravens likely don't have the cap room to outbid a team like the Raiders (remember Kelechi Osemele), so they'll have to convince him Baltimore represents his best chance at winning a championship.

And Baltimore is expected to look at left tackles because the Ravens would prefer not to pay Eugene Monroe $6.5 million this season, the highest-base salary on the team. Baltimore will have trouble trusting Monroe after he missed 16 games since signing a five-year, $37.5 million deal two years ago. Dependability and consistency from the left tackle are even more important for the Ravens this year considering quarterback Joe Flacco is coming off season-ending knee surgery.

The Ravens have been busy in the first week of free agency, signing Flacco to an extension, placing the franchise tag on kicker Justin Tucker, using a second-round tender on wide receiver Kamar Aiken and re-signing cornerback Shareece Wright and long-snapper Morgan Cox. But Baltimore has been typically quiet with other teams' free agents with only one signing (tight end Benjamin Watson) so far.

After these moves, the Ravens have $12 million in cap space, according to ESPN Stats & Information.

Here are the free agents available at wide receiver, safety and left tackle who make sense for the Ravens:

Wide receivers: Mike Wallace (Vikings), Roddy White (Falcons), Percy Harvin (Bills) and Brandon LaFell (Patriots)

Safety: Eric Weddle (Chargers), Rashad Johnson (Cardinals), Reggie Nelson (Bengals) and Walter Thurmond (Eagles, if he doesn't retire)

Left tackle: Russell Okung (Seahawks), Ryan Harris (Broncos), Kelvin Beachum (Steelers) and Donald Penn (Raiders)