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Ray Rice, Baltimore Ravens agree to five-year, $35M contract

The Baltimore Ravens and running back Ray Rice reached an agreement on a five-year, $35 million contract Monday.

The deal includes escalators that can bring the total amount to $40 million, according to a source with knowledge of the situation. The Ravens later confirmed Rice's signing, via a team release.

"This is another example of Steve Bisciotti's commitment to the team and to our fans to retain our core players," Ravens general manager Ozzie Newsome said, via the team's official website. "(Rice's) production on the field speaks for itself, and his leadership in the locker room is outstanding."

Rice announced his "return" via Twitter.

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