Report: Ray Rice, Ravens agree on multi-year deal

The Baltimore Ravens and running back Ray Rice have reportedly agreed on a multi-year deal.

ESPN’s Adam Schefter is reporting that the deal is over a span of five years and is worth $40 million, which includes $17 million in year one and $25 million in the first two years. This deal was finished just before the 4:00 EST deadline.

Rice was threatening to hold out this season if he was unable to reach a long-term contract. The Ravens placed him on the franchise tag, but the 25-year-old back didn’t sign the franchise tender.

Last year Rice was the Ravens offense. He finished second in the NFL in rushing yards and finished with over 700 receiving yards. He also scored 12 touchdowns on the ground while scoring three through the air.