Pitta, who led all tight ends last season with 86 receptions, will make $2.5 million in base salary in 2017 along with a $500,000 roster bonus. He also reduced his 2018 base salary to $3 million. Pitta was previously scheduled to earn $5.5 million in the final two years of his contract.
This gives Baltimore an additional $2.5 million in cap space in 2017 and 2018.
This is the second straight season that Pitta has accepted a pay cut. He reduced his salary by $4 million last year, but he recovered $3 million of that by reaching incentives.
Pitta, 31, played his first full season since 2012 after undergoing surgeries on his right hip in 2013 and 2014. He led the Ravens in catches last season, but he ranked 28th among tight ends with 8.5 yards per catch and scored only two touchdowns.