Report: Ravens, Terrell Suggs making progress towards a new contract

terrell suggsAccording to Mike Preston of the Baltimore Sun,  the Ravens and star linebacker Terrell Suggs has been making progress towards getting a contract extension done.

According to an NFL source, the two sides are making progress, and the assumption here is that a new deal is likely.

Suggs has one year remaining on a six-year, $62.5 million contract worth $12.4 million this season. If the Ravens could get him to sign a new, lower deal, it could save the team $5 to $6 million and give them about $17 to $18 million in cap space.

Suggs currently has one year left on his current contract and will become a free agent next offseason. Signing him to a new deal now, will free up cap room for the Ravens.