Ray Rice signed a five-year contract with the Baltimore Ravens just under Monday's 4 p.m. ET deadline. Rice would have had to play for $7.7 million before becoming an unrestricted free agent after next season if a deal didn't get done. Instead, he will earn $40 million over the length of the contract, according to ESPN's Adam Schefter.
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
Rice remained optimistic throughout the offseason that a deal would get done. Ultimately he was proven right, even if negotiations came down to the wire. The fifth-year running back led the league with over 2,000 yards from scrimmage last season. He also earned his second career Pro Bowl selection.