"The Ravens agreed to resolve the grievance with Ray Rice," team president Dick Cass said in a statement. "It’s time to turn the page, and we’re moving forward. We wish Janay and Ray Rice the best."
Rice reportedly filed a grievance for $3.529 million after being released by the team. The Ravens did not disclose the amount of the agreed-upon settlement in Friday's announcement. Rice, who did not play in 2014, remains a free agent.
A hearing scheduled for Thursday and Friday has been called off. It's unlikely the amount of money involved in the settlement will be disclosed, the website said.
Rice was seeking $3.529 million, the sum he lost in base salary upon getting cut, per the Baltimore Sun.
The NFL, after initially suspending Rice two games, suspended him indefinitely following the video's release. An arbitrator overturned that suspension, and Rice, who turns 28 next week, is free to sign with any team.
Former FBI director Robert Mueller III is "being thorough" and "getting closer" to completing his investigation into the NFL's handling of the
One league source predicted the report will be released "sooner rather than later," per Schefter. Giants owner John Mara and Steelers owner Art Rooney updated their colleagues during the owners' meeting in Dallas.
The NFL initially suspended Rice two games, then suspended him indefinitely following the release of a video showing Rice knocking out his then-fiancee in a casino elevator. A judge overturned the indefinite suspension and Rice is free to sign with any team.
Rice spent his first six years with the
Rice gave the interview after a judge overturned his indefinite suspension from the league. He's free to sign with any team. Rice was caught on video knocking his then-fiancee unconscious in an Atlantic City hotel elevator in February.
"One thing about my punishment and everything going along with anything that happened is that I've accepted it," Rice said on the "Today' show. "I went fully forward with it. I never complained, or I never did anything like that. I took full responsibility for everything that I did, and the only thing I can hope for and wish for is a second chance."
Rice acknowledged he made a "horrendous mistake" by not apologizing to his wife, Janay, in the press conference following the incident.
"I was nervous, and that was the first time we were available to speak," he said. "And I made a horrendous mistake not apologizing to my wife.
"We were given what to speak about. It wasn't truly coming from us, if you can understand, but I made that clear in my last time I was able to speak that my wife is an angel. She can do no wrong. I take full responsibility for my actions."
Rice turns 28 in January. He produced four straight 1,000-yard rushing seasons before running for 660 yards and averaging a career-low 3.1 yards per carry in 2013.
Rice is free to sign with any team, but multiple teams have not expressed interest in signing the embattled running back.
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