Beat the deadline by 5 minutes.
Ravens have reached agreement on a multi-year contract with Ray Rice, per a source with knowledge of the situation.
— Albert Breer (@AlbertBreer) July 16, 2012
Ray Rice signed a five-year, $40 million contract that includes $17 million in year one and $25 million in the first two years.
— Adam Schefter (@AdamSchefter) July 16, 2012