Ravens place tag on Ray Rice

Updated: March 2, 2012, 8:53 PM ET
Associated Press

BALTIMORE -- Ray Rice has been designated the franchise player of the Baltimore Ravens, who hope to buy some time while negotiating a lengthy deal for the two-time Pro Bowl running back.

Rice's contract expired after a season in which he amassed an NFL-best 2,068 yards from scrimmage and helped the Ravens advance to the AFC Championship Game.

As a franchise running back, Rice will earn $7.7 million in 2012. Baltimore, however, intends to have him around a lot longer.

"As ...

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