Owings Mills, MD (SportsNetwork.com) - The Baltimore Ravens have cut ties with defensive end Chris Canty, terminating the veteran's contract on Friday.

Canty had one year remaining on a three-year contract he signed in 2013. The move, according to reports, will save the Ravens $2.6 million on the salary cap. He could still return on a lesser deal.

"We certainly would not close the door to Chris coming back to us," said Ravens general manager Ozzie Newsome on the team's website.

Canty spent two seasons in Baltimore after playing four years with the New York Giants and four seasons with the Dallas Cowboys. He was a Super Bowl champion with the Giants in 2011 and had considered retirement after this season concluded.

"I am going to continue to prepare to play again," said Canty. "I also want to thank Ravens fans. They embraced me immediately, and I embraced them back."

The 10-year veteran had 33 tackles and a half-sack last season. He has 21 1/2 sacks with 335 tackles in his career.