Graham, most recently a Chicago Bear, is the perfect offseason acquisition for the Ravens and fills a position of need, likely at a bargain price.
Graham also met with the Seattle Seahawks and Detroit Lions and allowed the Bears to give him a new offer, but ultimately he decided on the Ravens. He will provide depth at cornerback, play nickle in certain packages and, most importantly, be an important part of kick and punt return coverage.
In 2011, Graham was third in the league in special teams tackles with 75. With the Ravens, he will likely take on the role assumed to be vacated by free-agent LB Brandon Ayanbadejo, in which he was the team's special teams tackling leader.
The Ravens have already lost two safeties who contributed to special teams—Tom Zbikowski and Haruki Nakamura—so even if Ayanbadejo remains a Raven, the addition of Graham helps fill out what could have been a depleted unit this year.
Baltimore has just over $4 million in salary cap room left, which has made the team very marginal players in free agency this year. Instead of adding players, the Ravens have lost a number of their own, mainly on the defensive side of the ball.
The addition of Graham may be the only move they make in free agency this year, but it was a smart addition, one that fills an area of need while providing depth in the secondary.