The contract averages out to a salary of $8 million per year which is the same as newly signed RB Matt Forte who signed earlier in the day.
Sports Illustrated writer Peter King reports that RB Ray Rice has been signed to a five-year deal with the Ravens. The financial details of this contract has yet to be released but we will provide it as soon as it is released.
The contract was signed just minutes before the deadline for franchise players to ink a new deal for the season. Earlier in the day, there were conflicting reports that Rice and the Ravens were talking about a contract extension.
Jason La Canfora of CBS Sports reports that the Baltimore Ravens and RB Ray Rice have hit a “stalemate” in regards to a long-term extension. La Canfora adds that it would take a “major reversal” for anything to get by Monday.
It’s safe to assume that negotiations will continue up until the eleventh-hour on Monday, but it seems very likely that Rice will be playing for the $7.7 million guaranteed under his franchise tender. We have him listed as the No. 2 player in our Top 50 Free Agents list, but that was before Drew Brees signed his contract extension.