The Ravens signing of Ray Rice has a number of important ramifications.
Number one, the Ravens get cap relief, in the neighborhood of $2.5 Million. Number two, they now can focus their attention on Flacco. Number three, if they cannot sign Flacco, they have the possibility of the franchise tag, which would have been an issue if both Rice and Flacco were free agents. Number four, they have happy Ray Rice, which is a good thing.
The only negatives, if Rice gets hurt or underperforms and they have a lot of money tied into star players, which can affect depth.