Boldin said on Saturday that Baltimore might have to do a restructuring of some sort, but to this point and his knowledge, the Ravens have not.
As for his future, Boldin told Schefter that he would speak with his family before he makes any decisions, but as far as he is concerned and knows, he is planning to play for Baltimore next season under the terms of his current contract.
Boldin is scheduled to earn $6 million in the coming season. He carries a $7.531 million salary-cap figure.
Fox Sports reported earlier Saturday that Baltimore gave Boldin an ultimatum: Take a pay cut or get cut on Tuesday. USA Today Sports later reported that Boldin had rejected Baltimore's offer but that the sides were still discussing the matter, and that Boldin is prepared to test free agency if Baltimore releases him.
ESPN and other media outlets have reported that the Ravens do want to reduce Boldin's salary as they try to free cap space to retain free-agent linebacker Dannell Ellerbe.
The Ravens were expected to keep Boldin after the team didn't have to use the franchise tag on quarterback Joe Flacco, who signed a six-year, $120.6 million deal.
In the playoffs, Boldin caught 22 passes for 380 yards receiving (95 yards per game) and four touchdowns. He has led Baltimore in receiving yards in each of the past three seasons since being traded from Arizona.
Boldin, 32, said last month that he would retire if he was cut by the Ravens. Since the Ravens won the Super Bowl, linebacker Ray Lewis and center Matt Birk have retired and Baltimore has released guard Bobbie Williams.
Information from ESPN.com's Jamison Hensley was used in this report.