ESPN's Jeremy Fowler reports that the Baltimore Ravens permitted Rashod Bateman to seek a trade before signing the wide receiver to a new three-year, $36 million contract extension.

Ravens wide receiver Rashod Bateman explored his trade market before signing a three-year contract extension to stay in Baltimore.

Rashod Bateman and the Baltimore Ravens have agreed to a contract extension, the team announced Thursday. The three-year extension is worth $36.75 million with $20 million guaranteed, per ESPN's Adam Schefter. Bateman signed a deal last summer that extended his previous contract through the 2026 season.