As the NFL’s trade deadline approaches, can the Ravens even afford to be sellers?

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The Ravens did not look like contenders Thursday night. They did not even look competitive. They instead looked like a team that needs the kind of help that is not readily available at the trade deadline.

But after a 33-10 loss to the Jacksonville Jaguars, the Ravens’ third straight blowout loss and fourth in a row overall, coach Jesse Minter was unmoved. He sees a light at the end of this tunnel of dreary pain and dimming expectations.

“I believe in our guys,” Minter said. “In really all three phases, there’s spurts of good-enough football. There is a real inconsistency, I would say, at all three levels, all three phases. And again, some of that is due to whatever, but that is what it is. Nobody cares about that stuff. So if we can find a consistency level and find a formula for this particular team where it’s at right now, I do think there’s a good opportunity for this team.”

Minter believes in these Ravens. Does general manager Eric DeCosta? The answer could arrive in the coming days, as the team prepares for its next iteration, one with Jacoby Brissett at quarterback and a potentially tweaked roster around him.

With barely any salary cap space, the Ravens would have a hard time taking on any dead money that they’d be charged with if a player on an expensive contract is dealt.

As Ravens officials decide on their next move — buy or sell? Offense or defense? Young or old? — here’s a look at how the team could handle six core starters at the Nov. 10 deadline. (All contract info comes courtesy of Spotrac.)

RB Derrick Henry

Age: 32

2027 cap hit: $16.3 million

Dead-money charge: $4.3 million if traded

Stats: 175 carries, 689 yards (3.9 per carry), eight touchdowns

The case for trading him: After racking up a wildly efficient 3,500-plus rushing yards over his first two seasons in Baltimore, Henry is having a forgettable Year 3. He is averaging a career low in yards per carry, and his rushing production is only average relative to expectation, according to the NFL’s Next Gen Stats. Entering Thursday, Henry had surpassed NGS’ expectations on just over a third of his carries, a 30th-percentile mark leaguewide.

A trade to a better run-blocking team — John Harbaugh’s New York Giants, anyone? — could unlock something closer to Henry’s real value, especially as wintertime approaches. If the Ravens believe Henry’s ability has diminished, why not part ways before he falls off the age cliff entirely?

The case against trading him: The Ravens have reason to believe that a more consistent offensive line, amplified by the arrival of center Cam Jurgens, can have Henry looking more like himself, both this year and next. He’s almost always better in December than he is in September, and the depth behind him is suboptimal. Justice Hill is a quality backup, but Rasheen Ali has 23 career carries, and rookie Adam Randall has yet to play a snap.

ILB Roquan Smith

Age: 29

2027 cap hit: $32.7 million

Dead-money charge: $16.7 million if traded

Stats: 74 total tackles, two sacks, two forced fumbles, one interception

The case for trading him: Smith has a $32.7 million cap hit this season, the second highest on the team, and hasn’t lived up to the price tag. But high-level inside linebackers are at a premium in the NFL. Just look at how much Smith meant to the Ravens’ defense when he arrived, and how much the San Francisco 49ers’ defense struggled last season when Fred Warner was out. At his best, Smith can be a force multiplier against the run and pass.

The four-time Pro Bowl pick is also the Ravens’ pre-snap maestro — former Philadelphia Eagles right tackle Lane Johnson said Smith was “calling out lots of plays we were about to run” in a matchup two seasons ago — and that’s an ability that shouldn’t fade with time. If the Ravens can find a trade partner willing to take on Smith’s massive contract, Teddye Buchanan and Trenton Simpson would be a nice, cheap, young duo to build around.

The case against trading him: Smith, even with his high cap hit, is arguably more valuable to the Ravens than whatever draft capital DeCosta might get offered in a trade package. Historically, this defense has imploded whenever Smith has missed time. And that dead-money charge is massive.

CB Marlon Humphrey

Age: 30

2027 cap hit: Not under contract ($11.9 million in dead money)

Dead-money charge: $11 million if traded

Stats: 43 targets in coverage, 26 catches allowed for 436 yards and no touchdowns, according to Pro Football Focus

The case for trading him: Fans have seemingly reached a breaking point with Humphrey, whose off-field antics and half-serious quotes were tolerated when he looked like one of the NFL’s best playmaking cornerbacks — or at least like someone who could get back to that point. Now Humphrey is liable to give up a big play or two every game. On Thursday, it was a 52-yard completion to a blocking tight end. Humphrey wouldn’t fetch a big return in a trade, but maybe the Ravens would appreciate having another team help take him off their hands.

The case against trading him: Minter has long appreciated his takeaway ability, and Humphrey is still capable of turning in great performances. But who’s going to want him at the deadline?

WR Rashod Bateman

Age: 26

2027 cap hit: $6.2 million

Dead-money charge: $3.8 million if traded

Stats: 20 catches for 294 yards (14.7 per catch), one touchdown

The case for trading him: Speculating about Bateman’s future has become a hobby in Baltimore. The 2021 first-round pick could be well served with a fresh start, as he’s a good route runner with inside-out versatility. Bateman’s contract could be attractive to suitors, too; he’s under team control through 2029, when his cap hit rises to a manageable $14.9 million.

The case against trading him: How attractive would Bateman be as a trade piece after another quiet start to the season? And would the Ravens really feel comfortable elevating Ja’Kobi Lane to WR2 in his absence? There shouldn’t be any great urgency to trade Bateman given how long he’s under contract for.

TE Mark Andrews

Age: 31

2027 cap hit: $14.7 million

Dead-money charge: $5.7 million if traded

Stats: 31 catches, 327 yards, one touchdown

The case for trading him: The Ravens have two promising rookies, Matt Hibner and Josh Cuevas, waiting their turn at the position. Andrews hasn’t been featured in the Ravens’ downfield passing game, where he once thrived. Fans have also soured on Andrews, whose inopportune drops and fumbles have been hard to overlook and harder to forget.

The case against trading him: Andrews’ contract and poor production make him tough to trade, and with Durham Smythe lost for the season, the Ravens need veteran leadership at the position. Brissett needs a reliable target at tight end, too; Andrews is no Trey McBride, a frequent target during their time together on the Arizona Cardinals, but he’s a smart player who can be a safety net underneath.

DL Calais Campbell

Age: 40

2027 cap hit: Not under contract

Dead-money charge: $2.3 million

Stats: 13 total tackles, two tackles for loss, one sack, 17 pressures, according to PFF

The case for trading him: Campbell came back to Baltimore in search of a Super Bowl. Now he finds himself on a last-place team. Campbell could always request to be released later in the season, but he would be subject to waivers and couldn’t necessarily choose his destination. A trade to a winning team would be one last token of appreciation for one of the NFL’s most respected veterans.

The case against trading him: Campbell said after Thursday’s loss that he’s committed to staying in Baltimore. The Ravens would also likely see more use in keeping him around for a potential stretch run than in trading him away for potential late-round draft capital.