The transaction will save Baltimore $900,000 against this year's salary cap. Brown, 35, was scheduled to earn $2.75 million next season.
The 6-foot-7, 365-pound lineman signed a five-year $17.5 million contract in 2004 that included a $4 million signing bonus. He was scheduled to make base salaries of $3.46 million in 2007 and $4.3 million in 2008.
Brown was placed on injured reserve in December after injuring his back in a car accident. He started nine games, but eventually lost his job to Tony Pashos after rotating during the first half of the season.
Prior to rejoining the Ravens in 2003 after a three-year absence from the league, Brown received a multi-million dollar, confidential settlement from the NFL to settle a personal injury lawsuit. In 1999, Brown was struck in the eye by a referee's penalty flag while playing for the Cleveland Browns.
Regardless of whether he plays in the NFL again, the Washington native said he intends to remain in the area to be close to his three sons and pursue business interests.
"I'm not hurting for money, I love my kids -- my Chicken Littles -- and family comes first," Brown said. "I'm caught between two things pulling at me, so I'm in a bad predicament. I must be crazy because I don't need the money, but my crazy [butt] still wants to play. Ozzie told me to stay in shape, so we'll see what happens."
Meanwhile, the Ravens have released four-time Pro Bowl outside linebacker Peter Boulware, according to the NFL's official Web site.
Although team officials didn't confirm or deny the transaction, Boulware is no longer listed on the roster.
Parting ways with the franchise's all-time sack king creates $1.3 million in savings against the salary cap this year. Boulware, who has 70 career sacks in nine seasons, was due to earn a $2.1 million salary in 2006.
Boulware was under contract through 2009 with scheduled base salaries of $2.2 million in 2007, $2.3 million in 2008 and $2.5 million in 2009.
Boulware, 31, was re-signed in training camp after missing all of the 2004 season due to knee and toe injuries. He recorded 15 tackles and 2 1/2 sacks last season, appearing in 15 games with no starts.
The Ravens released the 1997 first-round draft pick from Florida State last spring rather than pay him a $6 million base salary, the highest on the team at the time.
In addition to being a long time contributor to RavensInsider, Aaron Wilson writes for the Carroll County Times in Westminster Maryland.
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