Boldin has signed a three-year extension that will pay him $28 million with $10 million guaranteed over the next four years that will keep him in Baltimore through the 2013 season.

In addition to Boldin, the Ravens get a fifth-round pick from Arizona.  In exchange, the Ravens will send a third- and fourth-round pick to Arizona.

This is a steal for Baltimore.  And part of the reason they were able to get a discount from last year’s rumored asking price of a first- and third-round pick was that Boldin was in the final year of his contract.

“I’m definitely excited,” Boldin said (via BaltimoreRavens.com). “For me, I’ve been hoping for this for a year since I first heard that the Ravens might be interested in me. I even talked with Ray [Lewis] about it a year ago. I really look at this as a great opportunity for me. They love football in Baltimore. I know that from when the Cardinals played there a few years ago. That place was loud, very impressive by the fans. The Ravens play a certain way. They play as hard and as physical as any team in the league, and I want to add to that. I think I play the way they play.”

There is no questioning Boldin’s toughness.  An example is the helmet-to-helmet hit by Jets safety Eric Smith that left him with a broken sinus and wired jaw yet he only missed two games.

Aside from being a tough, physical receiver who’s not afraid to go across the middle and make the tough catch, Boldin is the type of No. 1 receiver this team needs.  He’s tough to tackle with the ball in his hands and he immediately becomes the team’s top receiver with or without the re-signing of Derrick Mason, who’s an unrestricted free agent.

This move is great if/when they re-sign Mason.  It is merely good, however, if they don’t.

The problem last year was with the guys not named Derrick Mason — Mark Clayton, Kelley Washington and Demetrius Williams.  The Ravens couldn’t count on the other receivers on a consistent basis.  With Boldin and without Mason, the same would be true.  They would be able to count on Boldin but not guys like Mark Clayton, who received a second-round tender, and Donte’ Stallworth, who was signed as a free agent after being suspended last year, in 2010.

If Boldin weren’t available via trade, the Ravens should have pursued Brandon Marshall, who is a restricted free agent that received a first-round tender.  That would have provided the Ravens with a receiver that would have been much more productive than any they could have drafted with the 25th pick, which they would have forfeited to the Broncos, despite all of Marshall’s baggage.

With Boldin, however, the Ravens get a good value.  But often the term “value” implies a lack of production, which does not apply to Boldin.

Despite having a down year in 2009, Boldin hauled in 84 passes for 1,024 yards and four touchdowns.  In his seven NFL seasons, Boldin has had five seasons with 1,000+ yards.  Mason has had four 1,000-yard seasons in his five years in Baltimore.

One day into free agency and the Ravens have addressed their biggest need.  Not only does this move help franchise quarterback Joe Flacco, but it provides the Ravens with the flexibility to adhere to their philosophy of choosing the best player available in the first round.

Now, get a deal done for Mason…

That said, SI’s Peter King doesn’t expect the Ravens to make a move for Marshall as he tweeted, “… I believe the Ravens won’t be in Marshall market. Thought all along it was a good fit. No dice.” And it appears that the Seahawks are the team most likely to land Marshall.

Should the Ravens make an offer to Marshall?

You can easily make the case that the Ravens are more in need of a playmaking receiver than any other team in the league. And especially so when only considering solid teams who will be in the post-season hunt in 2010.

After all, the future of the only Ravens receiver – minus RB Ray Rice and TE Todd Heap – to have over 500 receiving yards in 2009 is officially a 36-year-old unrestricted free agent (UFA) as we are now about an hour into free agency.  In addition, Derrick Mason retired for 17 days last off-season so there’s no guarantee he’ll return although he has said that he would like a two-year deal.  Meanwhile, the Patriots are interested in Mason as are the Miami Dolphins.

In the Fanball Sports Network 2010 NFL Mock Draft, I selected Arrelious Benn for Baltimore with the 25th overall pick.  While I think the pick makes sense (obviously, or I would have selected someone else), there is no question that Marshall will catch more passes for more yards than Benn in 2009.  Facing double coverage at Illinois with erratic quarterback play (Juice Williams), Benn saw a big decline in his production to 38 receptions.

Despite facing double teams (except at the higher NFL level) with mediocre (at best) quarterback play (Kyle Orton), Marshall put up his third consecutive 100-reception season with at least 1,100 yards.

And there is no guarantee that Benn, or whatever receiver is available when the Ravens are on the clock, develops into a receiver as productive as Marshall, who was a fourth-round pick by the Broncos.  The Ravens have drafted two other receivers — Travis Taylor and Mark Clayton — within the first 25 picks, which have turned out to be disappointing.

A cheaper alternative to Marshall is Arizona’s Anquan Boldin, who is in the last year of his contract.  The Cardinals are supposedly willing to move Boldin for a third-round pick, per NFL Network’s Michael Lombardi (via Jamison Hensley of the Baltimore Sun).  Boldin isn’t as talented of a receiver as Marshall and he’s older (29), but he would come with less baggage and less cost than Marshall.

Another receiver on the Ravens’ radar is Houston’s Kevin Walter, who had a disappointing season in Houston last year.  In 2008, Walter had 60 receptions for 899 yards and eight touchdowns.  In 2009, however, he had 53 receptions for only 611 yards and two touchdowns.

In an ideal world, I would like to see the Ravens re-sign Mason and bring in Boldin (preferably due to lower cost) or Marshall.  Stay tuned…

“We’re interested in T.O. We’re interested in all the guys that can make our team better,” Harbaugh said (via the Baltimore Sun). “I think he’s a good guy and a good player.”

In the off-season so far, the Ravens have signed Donte’ Stallworth, who will hopefully help the Ravens stretch the field.  However, he hasn’t played in a year after serving a league-imposed suspension in 2009.  And before his suspension, Stallworth missed five games in 2008 and only caught 17 passes for 170 yards and one touchdown in 2008.

The team’s leading receiver is now an unrestricted free agent, but there’s reason to be optimistic that Derrick Mason will be in a Ravens uniform for the 2010 (and perhaps more) season(s).

“I think both sides are really interested in bringing back Derrick,” Harbaugh said. “Derrick, obviously, has let it be known what he’s interested, but that’s a good place to start. We’re interested in Derrick for more than one year. No doubt, he can still play. He’s 36 years old, but he’s not physically. As long as he can play, we want him to be a Raven. We’re pretty confident that we’ll be able to get something done. I know Ozzie [Newsome] is working on that right now.”

The Ravens may draft a receiver, as I did in the first round in our Fanball Sports Network 2010 NFL Mock Draft, and they may pursue one of the receivers that will be shopped (most notably, Arizona’s Anquan Boldin and Denver’s Brandon Marshall) this off-season.

But, back to the original question, is T.O. worth the trouble?

As one of the final eight teams remaining in the playoffs, the Ravens would need to lose a free agent of equal value (contract-wise) in order to add a free agent like Owens, under the collective bargaining agreement.

For much of his career, Owens’ production (minus dropped passes) and work ethic have overshadowed his “I-love-me-some-me” diva attitude.  Or, at least, made his attitude tolerable for the next team to give him a lucrative contract.

In his first three stops (San Francisco, Philadelphia and Dallas), his relationship with the team’s quarterback was rocky to put it mildly.  To be fair, he was relatively quiet in Buffalo last year.  But with Joe Flacco entering the third year of his career, adding the tumultuous receiver could easily impede the development of the franchise quarterback.

Granted he’s only two years removed from a 1,052-yard and 10-touchdown season.  And some of the decline from 2008 to 2009 has to do with the Buffalo Bills’ passing offense (or lack thereof).  But he has three consecutive years of declining production: 1,355 yards and 15 TDs (2007), 1,052 yards and 10 TDs (2008) and 829 yards and 5 TDs (2009).

Even if his production continued to decline to, say, 50 catches for 600 yards, that would have been second-best on the squad last season.  That said, I think the Ravens are better off without T.O.

With the 25th pick in the 2010 NFL Draft, the Ravens select Illinois wide receiver Arrelious Benn.

If the real draft plays out as our mock draft has, Benn would be the second receiver drafted after Oklahoma State’s Dez Bryant, who was taken by the Miami Dolphins (via Fanball blogger Josh Baumgard).  In addition, the availability of Benn resulted in part due to a trade that took place last year when the Carolina Panthers traded their first-round pick to San Francisco, who then drafted Oklahoma QB Sam Bradford with the 16th pick in our 2010 mock draft.  Had Carolina not traded away their pick, my counterpart that covers the Panthers would have selected Benn.

Ravens general manager Ozzie Newsome has a strong belief in drafting the best player available instead of reaching based on a need, but the addition of a playmaking receiver is the team’s biggest need with secondary help being (no pun intended) second.

“I don’t think Ozzie has an aversion to taking a wide receiver in the first round, I think Ozzie trusts his board,” said NFL Network draft analyst Mike Mayock. “I think the Ravens are as good as any team in the league at staying true to their board and not panicking.”

As it stands, the Ravens top four wide receivers (based on 2009 receiving yards) are all restricted or unrestricted free agents this off-season.  While they added Donte’ Stallworth, who missed the entire 2009 season due to suspension, and could pursue a trade for a someone like Arizona’s Anquan Boldin or Denver’s Brandon Marshall, drafting a receiver like Benn here makes sense.

The main concern I have about taking Benn at this spot was his decline in production from his sophomore to junior season at Illinois.  In 2009, Benn caught only 38 passes for 490 yards as a junior.  While many attribute a good portion of the decline in Benn’s production to that of quarterback Juice Williams, it’s never a positive sign to see a player, especially a first-round prospect, drop his production by half from the previous season.

However, Benn is a big and physical receiver (6-2, 220 pounds).  He doesn’t have top-end speed, but he has good speed and quickness as well as the size and strength to separate from corners.  He’s also not afraid to go across the middle and a lot of folks have compared Benn to Anquan Boldin.  In addition, Benn can contribute on special teams and is a good blocker at the receiver position.  One of the knocks on Benn is the consistency of his route-running.  Provided Derrick Mason returns in 2010, he would be a perfect mentor to help Benn correct his route-running inconsistencies.

Looking back at the Ravens’ draft history, they have selected a wide receiver in the first round two times: Travis Taylor (10th overall in 2000) and Mark Clayton (22nd overall in 2005).  In neither case has the production justified the lofty pick.  Will the third time be the charm?

Note: Wide receivers will perform this Sunday at the NFL Scouting Combine.

McGahee finished 2009 with 14 touchdowns (12 rushing and two receiving), but he scored in bunches.  He also did not score in bunches.  In a way, it was a tale of three seasons for Willis.

Many expected Ray Rice to be the featured back in the Ravens’ offense — and he was.  But there was more of an even split between Rice and McGahee during the first four weeks of the 2009 season.  McGahee had 37 carries during that span while Rice had 49.  But McGahee scored — and led the NFL with — six touchdowns after the first quarter of the season.

So, then you might have thought to yourself, there’s no doubt that Rice is a stud but McGahee is at least worthy of being a flex option on your fantasy squad.  Maybe you didn’t.  Maybe you’re smarter than I am.  (Ok, admittedly, there’s probably no uncertainty there.)  But I did think that I can bank on a score and I got burned for a few weeks.

McGahee actually went from week 5 to week 11 without scoring a single touchdown.  None.  Nada.  Zip.  Zilch.

Not only did he not score a touchdown during the next four games, he rushed for a total of zero (0) yards.  (That’s not a misprint, folks.)  Only ten rushing attempts during those four games with rushing production of -2, 3, 1 and 0 yards.  However, he did have two catches for eight yards in that span.  So, if you are in a league that awards fractional points, you received 0.8 points (or 0.2 per game).

With McGahee firmly on everyone’s bench by week 12, he went on to rush for seven touchdowns in the final six games of the season.  Granted the fantasy season ends in week 16 for most, but McGahee saved the best performance of his career for week 17 when he bitch-slapped the Oakland Raiders for 167 yards and three touchdowns.

While McGahee would like to seek a starting opportunity somewhere, he was a team player in 2009.  You never heard about any grumbling from the man despite his inconsistent and reduced usage.  But you should expect to see McGahee in a Ravens uniform in 2010.

Looking ahead and projecting 2010 is risky.

McGahee will likely be a player that should vulture some goalline carries from Rice owners, who should be a top five pick in 2010.  [Here's my outlook on Rice.]  The problem with McGahee is he is just as likely to get you 35 yards and two touchdowns as he is to get you three yards and no touchdowns.

He’s someone to draft late, very late, and stash on your bench.  If you decide to start him though, buyer beware.

(Really early) 2010 prediction: 100 carries, 400 rushing yards, 20 receptions, 150 receiving yards, 8 combined TDs

Stallworth, who served 24 days in jail for a DUI vehicular manslaughter charge, signed a one-year contract with the Ravens for $900,000 and can earn an additional $300,000, according to ESPN.

“We’ve given a lot of thought to this and we’ve done extensive research into Donte’ beyond football,” Ravens general manager Ozzie Newsome said. “He made a huge mistake. There’s no doubt about that. He has paid a significant price for that and, as he has said, he carries a heavy weight. As [Ravens owner] Steve [Bisciotti] has said, we believe in second chances, and Donte’ does deserve that.

“But, we’ve signed him because we want to get better, and we think he has a chance to help us. We worked him out and it’s obvious he is working hard to be effective. We thought it was important to sign him now, because other teams were pursuing him and we want him in our offseason program, which starts next month.”

The size of the contract limits the on-the-field risk with Stallworth, who has reportedly run some 4.3 40’s recently.

Based on last year’s roster, it’s conceivable — perhaps likely — that Stallworth will be the team’s second-best receiver after Derrick Mason, who may or may not return for another season.  That is less of a compliment to Stallworth than it is an indictment on receiver Mark Clayton, who caught 34 passes for 480 yards.

In his last full season (with New England in 2007), Stallworth finished with 46 receptions for 697 yards.

With the current state of the receiving corps, the Ravens will hopefully add additional receiver talent and depth via trade and/or the draft in April.

Enter Denver’s Brandon Marshall and San Diego’s Vincent Jackson.

Marshall, who was benched for week 17, has had three consecutive seasons with 100+ receptions and 1100+ yards and Baltimore was a rumored destination for him last off-season.  Jackson, who is also a 6′5″ target, had career highs in receptions (68), yards (1,167) and touchdowns (nine) in 2009.  San Diego is less likely to let Jackson out of town than Denver will let Marshall go.

“You’re not going to have 53 angels, and you probably wouldn’t have a very good team if you had 53 angels,” Ravens owner Steve Bisciotti said, per Aaron Wilson of National Football Post.

While Bisciotti is correct, he admits that he is “probably the biggest risk taker” out of the group of decision-makers in Owings Mills, which also includes team president Dick Cass, general manager Ozzie Newsome and coach John Harbaugh.

But as Wilson points out, the Patriots have shown that the addition of another team’s problem(s) — Randy Moss and Corey Dillon, as examples — can be a huge positive.  If a team were full of players with character concerns in their locker room, the addition of a player like (the Oakland version of) Randy Moss would be detrimental to team chemistry.

Also, adding a potential locker-room cancer to a squad that lacks leaders would pose serious challenges.  We saw addition by subtraction in Dallas with Terrell Owens, who is an unrestricted free agent again in 2010.  But the lack of leadership in Dallas made a turbulent situation better without T.O. in town.  Fortunately, the Ravens have someone like Ray Lewis in the locker room to knock the shit crap out of someone like Brandon Marshall when (or if) the conduct-detrimental-to-the-team behavior surfaces.

Both players are big targets that would provide a strong-armed quarterback like Joe Flacco with a legitimate play-maker to make big strides forward in his third season.

While I would expect the Ravens to target a receiver in the first round of April’s draft, it’s a hit-or-miss proposition when drafting a receiver high in the draft.  Example: Mark Clayton was selected with the Ravens’ first-round pick in 2005 but his production and consistency doesn’t match what you would expect from a high pick.

That said, you know what to expect (at least, on the field) from someone like Marshall, who was Denver’s fourth-round pick in 2006, or Jackson, who was San Diego’s second-round pick in 2005.

“… All three players have played 10 or more years in the NFL and have a made a positive impact on the Jaguars’ organization. These decisions certainly weren’t easy ones, as Torry, Tra and Rob have (made) over 350 starts between them, and they still have the ability to contribute for other teams in the league,” said Jaguars GM Gene Smith (via The Florida Times-Union).

Holt, who was the Rams  first-round pick in 1999, has 920 career receptions (11th all-time) for 13,382 yards (10th all-time) and 74 touchdowns.

Some speculation has surfaced that the Bears might be interested in Holt, but Brad Biggs of the Chicago Tribune writes that it’s “unlikely” for the Bears, who have hired Mike Martz as offensive coordinator this off-season, to pursue Holt.  Biggs goes on to say that some scouts have said that “he’s not the same player off artificial turf” so perhaps a return to his former team (St. Louis) may make some sense.

As it stands, the Ravens top four receivers from 2009 (Derrick Mason, Mark Clayton, Kelley Washington and Demetrius Williams) are either restricted or unrestricted free agents.  Moreover, Mason, who had nearly as many receiving yards as the next three wide receivers may retire in the off-season.

Had the Ravens had Holt on their roster in 2009 and he produced the same numbers he did for the Jaguars, he would have finished second out of the receiving corps in receptions and receiving yards (and by a lot).  Holt finished 2009 with 51 catches for 722 yards.  Out of Baltimore receivers, Clayton finished second on the team with 34 receptions for 480 yards.

Ideally, Mason won’t retire and will return to the Ravens for another season.  Even better, if they can work out a deal for someone like Arizona receiver Anquan Boldin and add a receiver through the NFL draft that can make contributions right away.  Then adding a receiver with Holt’s professionalism, experience and (albeit declining) talent as the third or fourth option makes a lot of sense to me.

Rice, who was the Ravens’ second-round pick in 2008, led the team in both rushing yards (1,339) and receptions (78). In fact, he led all NFL running backs in receptions and receiving yards (702). Rice was one of only two RBs that finished with over 2,000 yards from scrimmage last year.  (Tennessee RB Chris Johnson, who broke Marshall Faulk’s single-season record for yards from scrimmage, was the other.)

Perhaps his only fantasy flaw was the eight touchdowns (seven rushing and one receiving) he put up in 2009.  In large part, that was due to the 14 combined touchdowns by teammate Willis McGahee, most of which came at the beginning or end of the season.

Whether or not McGahee will return in 2010 — and, in turn, vulture Rice’s scoring opportunities — is not completely certain, but it’s clear that Rice won’t be the mid-round bargain he was in 2009.  Instead he will be taken in the top half of the first round in almost all leagues.  Tennessee’s Chris Johnson, Minnesota’s Adrian Peterson and Jacksonville’s Maurice Jones-Drew will likely be taken with the top three picks.  After those studs, I would select Rice next, especially in a point-per-reception (PPR) league.

In the passing game, Rice will receive plenty of targets. With the lack of big-play receivers in the Ravens’ offense, Rice could see even more targets in 2010 if the Ravens don’t re-sign their free-agent receivers, trade for or sign a veteran or draft a rookie receiver.

Perhaps, more importantly, McGahee’s status for 2010 will impact Rice’s fantasy value. Will McGahee be traded this off-season or will he be back? Will he continue to get goalline carries?

(Really early) 2010 Projection: 1400 rushing yards, 800 receiving yards, 85 receptions, 12 combined TDs

Per Ryan Mink of BaltimoreRavens.com, safety Ed Reed says that his pinched nerve is affecting his hip and he’s still uncertain about whether or not he’ll return for another season despite coach John Harbaugh’s belief that Reed will be back in 2010.

Former Ravens QB Kyle Boller has gotten engaged to former Miss California Carrie Prejean.

Kicker Matt Stover, who was the oldest player to ever play in the Super Bowl, missed a 51-yard attempt to the left for Indianapolis last night.

Ex-Ravens tight end Shannon Sharpe made it to the final 10 in the Pro Football Hall of Fame balloting, but he did not make the Class of 2010.  In his career, Sharpe has 815 receptions (21st all-time) for 10,060 yards (32nd all-time) and 62 touchdowns.

The Cleveland Browns released receiver Donte’ Stallworth today.  Despite missing the 2009 season due to suspension after the death of a pedestrian resulting from a DUI manslaughter charge, should the Ravens consider Stallworth as an option to bolster their receiving corps?  Even before missing 2009, Stallworth has seen a drop in production over several years and isn’t worth the risk, in my opinion.

In addition to Stallworth, it’s expected that the Jaguars will release Torry Holt.  Holt can still be productive as an NFL receiver especially when compared to any Ravens’ receiver who’s last name is not Mason.  Holt finished with 51 receptions for 722 yards in 15 games in 2009.