The Ravens reached an agreement on a contract extension with veteran rush linebacker Terrell Suggs on Sunday night that is expected to give the team additional salary-cap room, according to team sources.

Suggs, 31, has verbally agreed to the deal, according to sources, and he’s expected to sign the contract Monday morning. Ravens general manager Ozzie Newsome and Suggs will speak to reporters at a news conference at noon on Monday at the Under Armour Performance Center.

Full details of Suggs' adjusted contract weren’t available Sunday evening , but he was scheduled to make a $7.8 million base salary under the previous terms of his six-year, $62.5 million contract. The new pact is expected to significantly lower Suggs' $12.4 million salary-cap figure, according to a source.

It should also provide the Ravens with much-needed salary-cap flexibility to try to retain several of their unrestricted free agents, including tight end Dennis Pitta, offensive tackle Eugene Monroe, middle linebacker Daryl Smith, wide receiver Jacoby Jones and cornerback Corey Graham. Defensive lineman Arthur Jones is still expected to command a lucrative price as a free agent and may be difficult to keep.

Before the new deal with Suggs, the Ravens had just under $12 million of cap room but that was before tendering contracts to their exclusive rights and restricted free agents.