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.
For more on the Ravens and Ray Rice, check out SB Nation's Ravens blog, Baltimore Beatdown.