The Sports Xchange

OWINGS MILLS, Md. — In the biggest move of their offseason, the Baltimore Ravens signed top cornerback Jimmy Smith to a four-year, $48 million contract that includes $21 million guaranteed with a $13 million signing bonus.

The contract includes $10.275 million annually in new money.

“I’m tremendously happy just to be a Raven for the next five years of my career, and I plan on getting rings,” Smith said. “Now, I can just focus on getting healthy and getting back on the field. That’s all my focus.”

By signing Smith, the Ravens no longer have as much of a pressing need to draft a cornerback in the first round.

The Ravens could still draft a cornerback, but might not be as inclined to draft one immediately.

The Ravens could also look for a wide receiver, an edge pass rusher or a tight end.

Smith’s signing is the Ravens’ biggest move after losing five-time Pro Bowl defensive tackle Haloti Ngata via a trade to the Detroit Lions, speedy wide receiver Torrey Smith signing a five-year, $40 million deal with the San Francisco 49ers and outside linebacker Pernell McPhee signing a five-year, $39 million contract with the Chicago Bears.

The Ravens also cut wide receiver Jacoby Jones and re-signed veteran defensive end Chris Canty after cutting him and trading Ngata.

For the Ravens, the move locks up one of the top young cornerbacks in the NFL and stabilizes a secondary that struggled last season as a result of injuries and ineffectiveness. Smith’s absence for the team’s final 10 games – he had a Lisfranc foot sprain that required surgery in November – exposed the need for a shutdown-type corner.

Getting Smith’s deal done now eliminates one potential key free agent next offseason. Starting guards Marshal Yanda and Kelechi Osemele, strong-side linebacker Courtney Upshaw, kicker Justin Tucker and punter Sam Koch all could the hit the market next year.

“(Owner Steve Bisciotti) is always committed to trying to retain as many of his good players as he can. He’s been very much involved in this part of the negotiation as far as he wanted Jimmy to get the extension,” Ravens general manager Ozzie Newsome said. “It’s an opportunity where we can have one of our good young players extend their career here in Baltimore.”

If the going rate for free-agent cornerbacks this offseason is any indication, the Ravens might have saved themselves millions of dollars by signing Smith now and not allowing him to hit unrestricted free agency next year. Byron Maxwell, one of the top free-agent cornerbacks on the market this offseason, signed a six-year, $63 million deal with the Philadelphia Eagles that included $25.5 million guaranteed.

As part of his deal, Smith got a $13 million signing bonus and a $1 million base salary for the 2015 season. He’s due $7 million guaranteed in 2016, $8.5 million in 2017, $9 million in 2018 and $9.5 million in 2019. Smith now has a $3.6 million salary-cap figure for the coming season, down from the $6.898 million he was originally due this year.

“For me, it was never truly about being the highest-paid corner,” Smith said. “I knew I couldn’t be that on this team and be here, just because the talent (is) spread around. You have to pay other people. I knew that and (I had) the injury. All those things came to mind, but it worked out.

“When you think of the Ravens, what do you think of? Defense. They put me back in here, meaning I’m almost a cornerstone of this defense. It means everything. Defense for the Baltimore Ravens has won two championships. It means everything.”

With the Smith deal done, the Ravens will look for help in the draft at wide receiver, tight end and outside linebacker and have less of a need for a cornerback now.

2014 Record: 10-6, 3rd in AFC North

First Draft Pick: #26 Overall

BEST FIT: WR Breshad Perriman, Central Florida

The Ravens need an influx of speed outside after losing wide receiver Torrey Smith to the San Francisco 49ers during free agency. Perriman, the son of former NFL wide receiver Brett Perriman, has an outstanding size-speed combination and could provide a deep threat immediately working in tandem with veteran wide receiver Steve Smith.

TEAM NEEDS

1. Wide receiver: The Ravens lack talent and depth opposite Steve Smith with the departure of Torrey Smith. They come back with Michael Campanaro, Marlon Brown and Kamar Aiken, who each have their respective skills. However, none are proven starting material.

2. Cornerback: Despite signing Jimmy Smith to a new contract and restructuring Lardarius Webb’s contract, the Ravens still need a young cornerback to upgrade the nickel package and fill in if either gets hurt again. That happened last year.

3. Outside linebacker: The Ravens need depth at edge pass rusher to work behind older veteran outside linebackers Elvis Dumervil and Terrell Suggs. After losing Pernell McPhee to the Chicago Bears in free agency, the Ravens lack a talented pass rusher beyond the established presence of Dumervil and Suggs and could use a young player to groom behind him.