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No Progress between Ravens, Rice on a new deal

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(Credits: Wesley Hitt/Getty Images)

The Baltimore Ravens and Pro Bowl running back Ray Rice continue to talk about a contract extension.

But the two sides have not made any strides towards a new deal, a source familiar with the talks told ESPN NFL Insider Adam Schefter.

The deadline for Rice and the Ravens to hammer out a new deal is July 16. If the two sides can’t come to an agreement by then, he will play under the $7.7 million franchise tag.

Considering there has been virtually no progress in contract negotiations, it indicates there is a struggle between both sides to find a common ground on what Rice should be paid.

Rice, 25, probably believes he deserves to be paid similar to the contract Chris Johnson received from the Tennessee Titans, a six-year, $53 million deal with $30 million guaranteed. Rice may have a point, as he’s gained more total yards over the past three seasons than Johnson.

The Ravens are probably trying to sign Rice to a deal in the neighborhood of what Houston Texans running back Arian Foster received, a five- year, $43.5 million with $20.75 million guaranteed and the Philadelphia Eagles’ LeSean McCoy, a five-year, $45 million with $20.76 million guaranteed.

For the Ravens, they could make the argument that the Foster and McCoy signings have set the market value for running backs.

Until the two sides can bridge a $9-10 million gap in guaranteed dollars, there will be a standstill for a new deal.