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Ray Rice in line to make $24 million by March

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After four years of slotted second-round money, Ravens running back Ray Rice is getting paid.  Plenty.

A source with knowledge of the contract has shared the full details.

Rice receives a $15 million signing bonus on his new five-year deal, along with a non-guaranteed base salary of $2 million in 2012.  (The base salary is essentially guaranteed, because the Ravens won’t be cutting him this year.)

Next year, a $7 million option bonus is due in March, with a $1 million base salary.  The option bonus is guaranteed for injury; as a practical matter, the base salary is guaranteed, too, because the Ravens won’t cut him in 2013 if they pay the $7 million.

And if they don’t pay the $7 million, Rice will have made $17 million for one year.

In 2014, Rice is due to earn a base salary of $4 million.  In 2015 and 2016, Rice is due to earn a base salary of $3 million each season.

The deal also includes a $5 million one-time incentive/escalator.  If he reaches specific rushing/receiving targets in any of the first three years of the deal, and if the team finishes in the top 10 in total offense, Rice receives a $1 million incentive in he year he accomplishes the feat — and another $4 million is spread over the remaining years of the deal.

For example, if Rice hits the trigger in 2012, he’ll add $1 million to his $17 million haul, and another $1 million per year to the balance of the deal.  If he does it in 2014, he gets $1 million then plus $2 million in each of the final two years of the deal.

As to the final two years of the deal, the $3 million salary is light.  So if he’s still playing at a high level then, he can hold out for more.  With at least $29 million earned, he’ll be able to afford the daily training-camp fines.

Most importantly from an internal accounting standpoint, the contract reduces Rice’s cap number in 2012 from $7.7 million to $5 million, creating an extra $2.7 million in much-needed space.  Previously, the Ravens had less than $700,00 in wiggle room.

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16 Responses to “Ray Rice in line to make $24 million by March”
  1. raqaiw says: Jul 16, 2012 5:03 PM

    $2M in wiggle room they can use to shut Ed Reed up most likely. Never knew $7.7M was disrespectful to 33 year old DBs.

  2. ravensfansc says: Jul 16, 2012 5:07 PM

    I think the fact that we got an extra 2.7 mil in cap room is huge since we signed one of our best players and have the ability to extend Reed or Flacco

  3. hedleykow says: Jul 16, 2012 5:08 PM

    That’s a lot of money for rice.

  4. mistersmith22 says: Jul 16, 2012 5:13 PM

    Multiplying our available cap space about five times over while making the most important player on our team very happy to stay in purple? Great day.

  5. youdownwithjpp says: Jul 16, 2012 5:13 PM

    Good move by both parties. Not a Ravens fan, but I love me some Ray Rice. Congrats.

  6. redguy12588 says: Jul 16, 2012 5:15 PM

    $6M over the last 2 years of the year? I smell another holdout.

  7. kwf1224 says: Jul 16, 2012 5:17 PM

    Great Decision, Ravens.

  8. ravenator says: Jul 16, 2012 5:21 PM

    Ravens lock up their stars. Best FO in the league! Woohoo!

  9. jfolland says: Jul 16, 2012 5:30 PM

    redguy12588 says: Jul 16, 2012 5:15 PM

    $6M over the last 2 years of the year? I smell another holdout

    Unlikely…this is the same ray rice that played out his rookie deal making $500k the past three years because he wanted to honor his contract…he’s no CJ, or MJD. Proud to have him in purple and black for 5 more years.

  10. ravenator says: Jul 16, 2012 5:37 PM

    What happened to Wallace? Still a no show?

  11. borisbulldog says: Jul 16, 2012 6:06 PM

    So in the final 2 years he’ll want to re-do the contract cause he’s only making $3MM right?

  12. mrmorton10 says: Jul 16, 2012 7:25 PM

    Somebody give Rice’s agent a pat on the back and a congrats for a job well done. This is a sweet deal Rice and if he falls off in 2 yrs the Ravens are not on the hook for a lot of dough.

  13. randallflagg52 says: Jul 16, 2012 9:51 PM

    Ravens easily have the best FO in the NFL. No one owns draft day like they do, and they always keep their blue chip players. Can’t name very many (if any) players who were drafted by Ozzie who had success elsewhere. Adalius Thomas, Bart Scott and Jason Brown all come to mind…

  14. dietrich43 says: Jul 16, 2012 10:08 PM

    As a Steelers fan, I hate to see this. I was really hoping there’d be a long holdout and contract fight. Good move by Newsome.

  15. 1buckeye76 says: Jul 16, 2012 10:47 PM

    Congrats to Ray from a Bengals fan. He carries your offense, and you win a lot of games. He deserves it.

  16. steeelfann says: Jul 17, 2012 8:58 AM

    Well, the soon-to-be 33 year old Ed Reed is probably steaming. You know Ozzie ain’t givin away the farm to Reed. 2013 Reed is many – times -injured 35 year old safety.

    Ed, this is your dinner! Soup and salad is a dinner!

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