Ian Whetstone reports that Raiders TE Lee Smith agreed to a reduced one-year contract to remain with the team.
Field Yates of ESPN confirms that Smith did, in fact, agree to a pay cut to return to the Raiders. Smith was set to make a base salary of $2.75 million but will now make a $1 million salary to go along with a $1 million roster bonus, according to Yates.
Smith, 29, is a former fifth-round pick of the Patriots back in 2011. After four years with the Bills, Smith signed a three-year, $9 million contract with the Raiders back in March of 2015.