BALTIMORE (WJZ)—The Baltimore Ravens signed running back Ray Rice to a five-year contract Monday afternoon worth a reported $40 million; $25 million is guaranteed.

Rice is expected to discuss the new contract at training camp next Wednesday.

“This is another example of Steve Bisciotti’s commitment to the team and to our fans to retain our core players,” general manager Ozzie Newsome said. “Ray has been an integral part of us earning the playoffs in each of his four seasons, and that includes helping us get to two AFC Championship games. His production on the field speaks for itself, and his leadership in the locker room is outstanding.

“I should say something about his community efforts; I think they are almost unmatched by any player in the NFL. You’d have a hard time finding a player who does more or is as serious about helping others as Ray is. He is one of those players you can proudly say, ‘He’s on our team.’”

Rice, 25, enters his fifth NFL season after being designated with the Ravens’ franchise tag in February. Baltimore originally selected the 5-8, 212-pounder in the second round (55th overall) of the 2008 Draft.

Playing in 61 career games (49 starts), the two-time Pro Bowler (2009 and 2011) ranks second on both the franchise’s all-time rushing yards (4,377) and total scrimmage yards (6,612) charts.