Ravens general manager Ozzie Newsome has expressed hope about keeping Reed, 34, but the nine-time Pro Bowl selection hired agent David Dunn and appears determined to explore the marketplace.
Former Pittsburgh Steelers outside linebacker James Harrison has been talking with the Ravens, according to his agent.
Agent Bill Parise told The Sun he's spoken with Ravens general manager Ozzie Newsome regarding the former NFL Defensive Player of the Year as well as six other teams.
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"I've talked to Ozzie, sure have, had a good talk about James," Parise said. "It's early and we're not in negotiations, but we're having some good conversations."
A five-time Pro Bowl selection, Harrison was cut when the two sides were unable to agree on a reduction of his scheduled $6.57 million salary. The Steelers saved $5.105 million against the salary cap by releasing Harrison.
Harrison turns 35 in May.
He dipped to six sacks last season while dealing with injuries.
Five years ago, Harrison was honored as the top defensive player in the league when he recorded 16 sacks.
Harrison was briefly with the Ravens before joining the Steelers, but was cut by Baltimore when they signed tight end Daniel Wilcox.
"Baltimore would be an outstanding place for James to play because he knows the division and has that familiarity and they're a class organization.," Parise said. "We'll see where it goes."
The Ravens remain a potential destination for St. Louis Rams free agent wide receiver Danny Amendola, according to a league source.
After trading Anquan Boldin to the San Francisco 49ers for a sixth-round draft pick, the Ravens are interested in Amendola.
Nothing has immediately developed, though, as far as negotiations or planning a visit.
Amendola is expected to seek a contract similar to the five-year, $30.775 million contract recently signed by Dolphins wide receiver Brian Hartline that included a $7 million signing bonus and $12.5 million in total guaranteed money.
Amendola caught 63 passes for 666 yards last season, but was limited to 11 games due to injuries.
There are some durability concerns with Amendola, who's undersized and quick at 5-foot-11, 183 pounds.
The former Texas Tech standout broke his clavicle last season against the Arizona Cardinals, but came back three weeks later and caught 11 passes for 102 yards against the San Francisco 49ers.