According to Aaron Wilson via the Carroll County Times:
Baltimore Ravens Pro Bowl defensive tackle Haloti Ngata is signing his $12.5 million, one-year franchise tender today.
This guarantees his salary for next season.
Unable to sign Ngata to a long-term contract at this time due to the unresolved labor situation, the Ravens settled for the next best thing by designating the dominant lineman as their franchise player.
By using the franchise tag on Ngata and paying him the average of the top five salaries at his
unrestricted free agent.
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