The Baltimore Ravens and Steve McNair have reached agreement on the parameters of a deal that will pay the veteran Pro Bowl quarterback a signing bonus of close to $11 million and another $1 million in base salary this season, NFL.com’s Adam Schefter is reporting.

McNair’s $12 million from Baltimore would exceed the $9 million he was due to make in Tennessee. Last weekend, the Titans gave McNair’s representative, Bus Cook, permission to negotiate with the Ravens. It didn’t take them long to strike an agreement. Now it’s just a matter of how and when the Titans want to end their relationship with McNair.

When they do, it will be financially rewarding. Once McNair is traded or released, the Titans will free up $9 million against their salary cap — money they can use to sign their No. 1 draft pick, quarterback Vince Young, and rookie running back LenDale White.