Updated at 3:41 p.m.

The Baltimore Ravens and their starting left offensive tackle Bryant McKinnie have reached agreement on a restructured contract, according to the Baltimore Sun’s Aaron Wilson.

The deal is incentive-laden, with the possibility that he could still reach his original $3.2 million figure. He can become a free agent in 2013.

Filed at 3:03 p.m.

The Baltimore Ravens and Bryant McKinnie are in the midst of talks aimed at restructuring the offensive tackle’s contract. If they do not reach an agreement, the team could release McKinnie this afternoon, the Baltimore Sun reports.

McKinnie’s tweets and texts reflected the fluidity of the situation. Shortly before 1 p.m., he texted the Sun’s Aaron Wilson: “Just got a phone call. It’s not officially over as of yet.” He had earlier texted “yes” when asked if he was off the team and tweeted, “Decision is made! I’m gone!”

As of 2:30, talks were ongoing, with a source telling the Sun that a financial gap still remained between the two sides.

The Ravens, who had no comment on the talks, paid McKinnie a $500,000 roster bonus this spring and are seeking to reduce his $3.2 million base salary by about half. McKinnie signed a two-year contract worth $7 million a year ago.

McKinnie reported to training camp five days late and was overweight but eventually passed a conditioning test. According to the Sun, his wages are being garnished in order to repay Pro Player Funding for a loan he took out during the 2011. Over $4.5 million is due on the loan.

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