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Monday, July 16, 2012
Source: Ravens, Ray Rice agree to deal

By staff

The Baltimore Ravens and franchised running back Ray Rice have agreed to terms on a 5-year, $40 million contract, only minutes before Monday's deadline, a league source told ESPN NFL Insider Adam Schefter.

The deal will pay Rice $17 million in the first year and $25 million in the first three years, the source said.