Ravens and RB Ray Rice Come to Terms on a Five-Year Deal Worth $40 Mil

The Baltimore Ravens and franchised running back Ray Rice have agreed to terms on a five-year, $40 million contract, only minutes before Monday’s deadline, league sources told ESPN NFL Insider Adam Schefter.

The deal will pay Rice $17 million in the first year and $25 million in the first two years, the sources said.

The Ravens had placed their franchise tag on Rice in March and the sides had until 4 p.m. ET today to reach an agreement. Without a long-term deal, Rice would have had to play the 2012 season under the $7.749 million tender or sit out the season.

The team avoided that today and secured their top Offensive threat for the next five seasons.

After making a long-term commitment to both Rice and cornerback Lardarius Webb this offseason, the Ravens can now turn their attention to trying to reach a deal with Flacco, the fifth-year quarterback.Flacco is entering the final year of his rookie deal and team officials have said that they don’t want him to enter the season as a lame-duck quarterback. However, there have been no signs that progress has been made in the negotiations.

Enjoyed this post?
Subscribe to NFL Gridiron Gab via RSS Feed or E-mail and receive daily news updates from us!

Submit to Digg  Stumble This Story  Share on Twitter  Post on Facebook  Post on MySpace  Add to del.icio.us  Bark It Up  Submit to Reddit  Fave on Technorati

Comments are closed.