8:24am: Days after releasing him as part of their cut down to 53 players, the Ravens have agreed to re-sign cornerback Derek Cox, sources tell Aaron Wilson of the Baltimore Sun. Cox’s new deal is another one-year, minimum-salary pact, according to Wilson.
Cox, who turns 28 later this month, spent his first four seasons with the Jaguars before signing a four-year, $20MM contract with the Chargers in 2013. However, he was released after just one season, despite receiving $10.25MM in guaranteed money. Cox played in all 16 contests for the Chargers in 2013, but started only 11 games, and signed a modest one-year, $1MM pact with Minnesota in March. A lack of guaranteed money in that deal made it easy for the Vikings to cut ties with him in August as roster cutdowns begin, opening the door for the Ravens to snatch him up last week.
In order to finalize the re-signing of Cox, the Ravens will have to clear a spot on their active roster. That could mean either cutting a player, or perhaps placing someone on injured reserve with a designation to return — as of 3:00pm central time today, teams are allowed to place one player on that list.