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Ravens and cornerback Jimmy Smith reach verbal contract agreement

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Verbal contract agreement with cornerback Jimmy Smith.

Kim Klement-USA TODAY Sports

The Baltimore Ravens have reached a verbal agreement on a contract extension with fifth-year cornerback Jimmy Smith.

Smith and Ozzie Newsome will meet with the media at 3:10 p.m. at the Under Armour Performance Center.

That's 10 minutes from now...

According to NFL sources, the deal will average $10 million annually. This extension locks up one of the top, young defensive backs in the league.

Stay tuned.

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