Report: Ravens, Suggs agree on contract extension

Baltimore, MD ( - The Baltimore Ravens have reportedly reached an agreement on a contract extension with veteran linebacker Terrell Suggs.

Ravens general manager Ozzie Newsome and Suggs will address the media at 12 p.m. ET on Monday.

Suggs was heading into the final year of a six-year, $62.5 million contract he signed in 2009. According to the Baltimore Sun, Suggs was scheduled to make a $7.8 million base salary under the terms of his previous contract. He was scheduled to eat up $12.4 million of the salary cap, but his cap hit will now be significantly less in 2014.

A first-round pick in 2003, Suggs is the organization's longest tenured player. He has a franchise-record 94 1/2 sacks to go along with 27 forced fumbles, seven interceptions, 45 passes defensed and 667 total tackles.

Last year, Suggs had 80 total tackles and 10 sacks in his first full season since suffering a partial tear of his Achilles tendon prior to the 2012 regular season.

The 31-year-old Suggs is a six-time Pro Bowl selection and was named the Defensive Player of the Year in 2011.