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Ravens can use Dennis Pitta's release to lure much-needed wide receiver

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Releasing Pitta a business decision for Ravens (1:20)

NFL Live breaks down the Ravens' decision to release Dennis Pitta. (1:20)

The Baltimore Ravens said goodbye to one of the best tight ends in the franchise's history on Wednesday, when they released Dennis Pitta after the six-year veteran reinjured his hip.

Despite the loss, Pitta's departure can help the Ravens welcome a much-needed wide receiver, be it former Chief Jeremy Maclin or current Jet Eric Decker. Maclin is visiting Baltimore on Wednesday, and the Ravens could acquire Decker either through a trade or when the Jets cut him.

While the Ravens lose their 2016 receptions leader in Pitta, they gain $2.5 million in cap space. Combine that with the $2.1 million created by cutting cornerback Kyle Arrington and the Ravens have nearly doubled their cap room in the span of one week.

The Ravens' need for a proven and talented wide receiver is dire. Mike Wallace is now the only player on the Ravens' roster who totaled more than 34 catches last season, and he's the only team member to ever produce a 1,000-yard season. The team's glaring lack of depth at receiver means Baltimore must capitalize on Maclin and Decker's unexpected availability.

Maclin, 29, is an excellent route runner with great hands and can stretch the field. He has averaged 68 catches, 900-plus receiving yards and six touchdowns in his seven-year NFL career.

Decker, 30, is a big-bodied target who comes up huge in the red zone and over the middle of the field. Decker has either caught passes for more than 80 yards or scored a touchdown in 18 of his past 19 games.

This is a critical time for the Ravens, who so far have been unable to add a wide receiver during the offseason. Baltimore couldn't convince Brandon Marshall to leave New York, and the Ravens' cap situation prevented them from matching the front-loaded deal given to Pierre Garcon by the San Francisco 49ers.

Joe Flacco needs another proven option in the passing game after Steve Smith Sr. retired and Kamar Aiken signed with the Indianapolis Colts in free agency. Despite passing for 4,317 yards last season (a career high), Flacco was intercepted 15 times, averaged a measly 6.4 yards per attempt and finished 24th in the NFL with a 83.5 passer rating.

The Ravens will miss Pitta's clutch catches and his chemistry with Flacco, which was integral to the team's Super Bowl victory in 2012. But if the Ravens can add Maclin or Decker using Pitta's cap space, Baltimore's passing game will be significantly improved.