It was surprising that the Ravens agreed to a contract extension with cornerback Lardarius Webb without first signing running back Ray Rice or quarterback Joe Flacco, but it was a good move by the team. During negotiations with star players, there are times when teams say, "Take the money now, or we move on to our next priority and sign him." That might not be the case in this situation, but I wouldn't be totally surprised if it was.
With Webb and second year cornerback Jimmy Smith under contract, the Ravens have two potential shut down cornerbacks while most teams in the NFL don't have one. Webb is just starting to enter his peak years, and Smith could become one of the better cornerbacks in the league. If they continue to progress, it would certainly help the Ravens pass rush.
As for Flacco and Rice, it's only a matter of time before they re-sign. Rice seems as if he wants to attend the various mini-camps, but his agent is advising him not to. I think Rice should remind his agent who works for who, and make his own decision.
I suspect that now Webb has a new contract, we'll be hearing more from Ravens Pro Bowl safety Ed Reed about not getting a new deal. Because of the injuries to his body and his constant threats about retiring, I wouldn't offer Reed a new long-term extension for a lot of money. Under his current deal, he will make $7.7 million this season. He should be happy with that and not complain. He certainly wasn't worth that kind of money a year ago.