The latest on Ray Lewis

Posted by ESPN.com's Matt Mosley

Baltimore Ravens general manager Ozzie Newsome indicated Wednesday that the club is making progress on a contract extension with linebacker Ray Lewis, but he didn't know whether anything would get done before the start of free agency Friday. Lewis, 33, has never been a free agent.

Newsome also pointed out that reaching a deal with free-agent linebacker Bart Scott wouldn't necessarily preclude the club from also signing Lewis. I think it will be difficult to satisfy both players, and I'm not sure the Ravens should try. They've always seemed to have a good sense of when to let players leave. Some of us questioned the wisdom of letting a phenomenal athlete like Adalius Thomas hit free agency a few years ago, but the guy hasn't exactly lit it up in New England.

Lewis is still a possibility in Dallas, but a Cowboys source told me Thursday morning that the club hasn't even spent much time discussing the veteran player. Jones has been burned before when it comes to paying age. Right now, he's focused on paying for outside linebacker DeMarcus Ware and a $1.3 billion stadium.

Honestly, you haven't lived until Jones has given you a lecture on "burn rates." I know the daily burn rate at the owner's new stadium if anyone's interested.

Continue to visit the NFC Beast Blog for the latest on free agency.