Baltimore Ravens linebacker Terrell Suggs signed a multiyear contract extension on Monday.
The new deal is a four-year extension that will free up $4 million in salary-cap space for the Ravens, according to NFL Media.
Suggs will reportedly receive more than $20 million in the first three years, with $16 million guaranteed in the first two seasons.
"If you count the franchise tag, this is the fourth opportunity I've had to stay here," Suggs said in a press conference announcing the deal. "I'm truly honoured. I'm flattered and honored to be a Raven for life."
The Ravens have limited cap space and several free agents they want to re-sign. Suggs' deal accommodates the Ravens by significantly reducing his $12.4 million salary. The new deal adds three years to the one year remaining.
"You can't ask for more as a player in my position, both sides willing to get a job done," Suggs said. "Any time a contract issue has come up with me, they've always stepped up to the plate. I'm truly grateful. I can't thank the city and the fans enough."
The Ravens should have enough money saved from Suggs' restructured deal to re-sign offensive tackle Eugene Monroe and use the franchise tag on tight end Dennis Pitta.
Suggs, 31, struggled in the second half of last season before finishing the year with 80 tackles and 10 sacks.
After being named NFL Defensive Player of the Year in 2011, Suggs missed half of 2012 with an Achilles' tendon tear and a torn biceps. He is the team's all-time leader with 94.5 sacks in 11 seasons.