Ian Whetstone reports that Raiders TE Lee Smith agreed to a reduced one-year contract to remain with the team.
Field Yates of ESPN confirms that Smith did, in fact, agree to a pay cut to return to the Raiders. Smith was set to make a base salary of $2.75 million but will now make a $1 million salary to go along with a $1 million roster bonus, according to Yates.
Smith, 29, is a former fifth-round pick of the Patriots back in 2011. After four years with the Bills, Smith signed a three-year, $9 million contract with the Raiders back in March of 2015. Smith stands to make a $2.5 million base salary for the 2016 season.
Smith was set to make a base $3 million base salary for the 2017 season.
In 2016, Lee caught six passes for 29 yards receiving and no touchdowns for the Raiders over the course of four games before he was placed on injured reserve.