The Baltimore Ravens announced Tuesday that they have given cornerback Jimmy Smith a contract extension. The 2011 first-round draft pick had one year remaining on his rookie deal and was set to cost the team $6.898 million against the salary cap this season.
Sources reported to Pro Football Talk that the extension is for four years and $48 million, with $21 million guaranteed. FOX Sports’ Mike Garafalo reports that Smith will receive a $13 million signing bonus and have a $1 million salary in 2015. The 26-year-old will make $7 million in fully guaranteed salary in 2016 with the number climbing to $9.5 million in the deal’s final year.
More on Ravens' Jimmy Smith deal: $13m signing bonus; Salaries of $1m this year, $7m next year (fully gtd). $8.5m, $9m, $9.5m last 3 years.
— Mike Garafolo (@MikeGarafolo) April 21, 2015
Perhaps more importantly for the cash-strapped Ravens is that Smith’s 2015 cap hit will go down considerably. The Baltimore Sun‘s Aaron Wilson reports that it will nearly be cut in half, down to $3.6 million this year.
Jimmy Smith now has a $3.6 million salary-cap figure for 2015, down from $6.898 fifth-year option he was originally due for this year
— Aaron Wilson (@AaronWilson_NFL) April 21, 2015
Smith has 140 career combined tackles over four seasons, along with five interceptions and 34 passes defensed. He had 28 total tackles, one interception and eight passes defensed in 2014, when he missed the final eight games of the season due to a foot injury that required surgery.
Locking down Smith is a crucial move for the Ravens, who saw their entire secondary wrecked by injuries last year. Baltimore now can keep hold of an important veteran for the long term.
Earlier this offseason, Smith expressed his desire to get a deal done sooner rather than later, noting his willingness to give the Ravens a hometown discount. According to Garrett Downing of ravens.com, Smith said:
“Everybody wants to get every dollar they can. It’s a business. If you put your body at risk like this, you should get every single cent. But some things matter more. For me, the team matters. Winning matters to me. Where I’m at matters. The people. With my decision, that’s going to play a big factor. I’ve been here and they know me. That’s going to play a huge factor.”
Baltimore finished 10-6 in 2014, beating the rival Pittsburgh Steelers in the Wild Card Round before falling to the New England Patriots, the eventual Super Bowl champions.
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