May 3 is the deadline for teams to exercise the fifth-year option on players taken in the first-round of the 2011 NFL Draft. The Ravens got their business taken care of early and have exercised the fifth-year option on cornerback Jimmy Smith, league sources confirmed to CBSSports.com.
Baltimore's decision is hardly a surprise: Smith emerged as the first-round pick Baltimore thought it drafted down the stretch in 2012 and again in 2013.
He'll be due just $6.898 million, which is only guaranteed for injury.
It's likely that the Ravens will try and work out a long-term deal with Smith, taken with the 27th overall pick in the 2011 draft, as John Harbaugh indicated at the NFL owners meetings.
"We are hopeful that we can sign Jimmy long-term," Harbaugh said. "That will be our goal."
Smith had 59 tackles, 16 pass deflections and three forced fumbles in 2013.