Previous reports mentioned that the Ravens were likely do so given that these options are not guaranteed.
Smith’s option will pay him $6.898 million for the 2015 season, but they could always negotiate a long-term extension in the coming months that reduce that figure and keep him under team control for the foreseeable future.
In the event that Smith turns into one of the best cornerbacks in the league, they at least have in under contract in 2015.
Last year, Smith totaled 59 tackles, two interceptions and three forced fumbles for the Ravens over the course of 16 games. Pro Football Focus had him rated as the No. 36 cornerback in the league.