NEW ROCHELLE, N.Y. – New Rochelle High School graduate and NFL running back Ray Rice has agreed to a long-term deal with the Baltimore Ravens, according to ESPN’s Adam Schefter.
Rice's five-year, $40-million contract will pay him $17 million the first year and $25 million in the first two years.
The Ravens had placed the franchise tag on Rice, and the two sides had until 4 p.m. Monday to agree to a contract. If the deadline passed and they had not reached a long-term deal, Rice would have had to play the 2012 season for the $7.749 million tender or sit out the entire year.
Rice’s contract expired after perhaps his best season in the NFL. He scored a franchise record 15 rushing touchdowns in 2011 and had a career best 1,364 yards rushing. He also led the team in catches with 76 for 704 yards. Rice accumulated an NFL-best 2,068 yards from scrimmage and led the Ravens to the AFC Championship Game, where they lost to the New England Patriots.