Jan 22, 2012; Foxborough, MA, USA; Baltimore Ravens running back Ray Rice (27) carries the ball against the New England Patriots during the third quarter in the 2011 AFC Championship game at Gillette Stadium. Mandatory Credit: Mark L. Baer-US PRESSWIRE

Ray Rice Signs 5-Year Deal Worth $40 Million

At the very last minute before today’s 4:30pm EST deadline for franchise tagged players to sign long term, the Baltimore Ravens and star running back Ray Rice have agreed to a new deal worth $40 million over the next five years with $24 million guaranteed.

Details on the deal are pretty simple and offer something for both sides – Rice will receive $17 million in 2012 and a further $8 million in 2013 with the final three years being worth $15 million. This deal is good for both sides as not only does Rice get an $8 million per year average but Baltimore gets some security on the back end of the deal that should Rice’s production fall off the ability to cut him wouldn’t be too painful.

Ray Rice ran for a career high 1364 yards in 2011 with 12 touchdowns while hauling in 76 receptions for 704 and an additional 3 touchdowns.

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Tags: Baltimore Ravens Contract Extension NFL NFL News Ray Rice

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