Ravens Pro Bowl outside linebacker Terrell Suggs' newly-minted four-year contract extension is worth $28.5 million and includes an $11 million signing bonus, according to a source.

The contract includes a total of $16 million in guaranteed money, per a source.

Suggs' salary-cap figure for this year is down to $7.8 million from an original figure of $12.4 million under his previous six-year, $62.5 million contract. The Ravens are now roughly $16.5 million under a projected NFL salary-cap limit of $126.3 million after the Suggs' extension.

Now, Suggs has a $1 million base salary for this season for a total compensation of $12 million in 2014 including his $11 million signing bonus.

Suggs has the following base salaries and corresponding salary-cap figures after next season: $4 million base salary in 2015, $6.6 million salary-cap figure; $4.5 million base salary in 2016, $6.7 million salary-cap figure; $4 million base salary in 2017, $6 million salary cap figure; $4 million base salary in 2018, $6 million salary cap figure.

The five-time Pro Bowl selection and 2011 NFL Defensive Player of the Year said he's glad that his deal will provide the Ravens with more salary-cap flexibility to retain their own free agents.