The talks went down to the wire this afternoon, but they had a happy outcome. Baltimore Ravens star running back Ray Rice signed a 5-year deal worth $40 million. He will receive $17 million in the first year and $25 million over the first two seasons.

Rice is now one of the highest paid running backs in the National Football League. He is coming off the best season of his career with 2,068 yards and 16 touchdowns.

Rice missed all off-season camps and practices, but he will attend training camp when it starts July 25.

He believes his best years are yet to come:

“Obviously it’s a little bit harder to invest in a running back because of the wear and tear,” he said earlier this offseason. “But I’m 25 years old with a full head of steam, still learning the game, still getting better.”

I was nervous about the deal getting done and that it’s done, I couldn’t be happier. The Ravens need Rice, he’s an elite running back, he’s played in two Pro Bowls and I see more in his future.

Now the Ravens can start training camp with the whole team in place and focus on the upcoming season.