According to the report, the Ravens are "very pessimistic" about their chances to re-sign Reed. He made $7.2 million last season and reportedly has a three-year offer worth $12 million from the Houston Texans. The Ravens have limited salary cap space available and are unlikely to offer $4 million per season, according to Rapoport.
The 34-year-old Reed spent the first 11 seasons of his career with the Ravens. He was thought to be seeking a contract worth between $6 and $7 million at the start of the free agency, but has now reportedly lowered his asking price to $4 million per season.
The Ravens' unwillingness to offer Reed $4 million per season could be good news for the Texans. Reed has also drawn interest from San Francisco and New England, but the Ravens and Texans are believed to be the only teams to make an offer thus far.