The Ravens asked veteran wide receiver Anquan Boldin to accept a $2 million pay cut of his $6 million base salary, according to league sources with knowledge of the situation.
In what remains a fluid situation, Boldin has declined.
Depending on whether this financial dispute is resolved, it could lead to his release.
One source stated early Saturday morning, "Unless something dramatic happens, it's an absolute done deal that Anquan will be released."
The Ravens were on the verge of releasing Boldin at one point Friday afternoon, and he had prepared a statement thanking the fans for their support for his time in Baltimore. The Ravens haven't given up on working something out with Boldin.
Boldin, 32, carries a $7.531 million salary-cap figure.
Boldin caught 22 passes for 380 yards and four touchdowns during the playoffs as the Ravens defeated the San Francisco 49ers in the Super Bowl, averaging 17.3 yards per reception.
Quarterback Joe Flacco, who was just made the highest-paid player in the game with a $120.6 million contract, said Monday that he wants the Ravens to be able to hold onto Boldin.
"I’ll tell you what: Anquan was a beast in those four games," Flacco said Monday in a reference to Boldin's postseason performance. "It was awesome to have him out there. You guys saw some of the catches that he made, none more important than the third down against San Francisco.
"He’s been a big part of this offense. He’s a big part of why I’m standing here talking to you guys. [The contract] definitely increases my confidence that we’ll have him back, and I hope we do.”