McGahee, the team's first-round draft pick in 2003, publicly expressed his displeasure for playing with the Bills in January. A month later during the NFL scouting combine in Indianapolis, the Bills revealed that they would attempt to trade the running back.
McGahee's agent, Drew Rosenhaus, told Yahoo! Sports that the trade hasn't been finalized but "we're on the right track."
McGahee, who still needs to take a physical for the Ravens, is seeking a new deal with the Ravens. Rosenhaus would not discuss the terms of the negotiation, but client Thomas Jones – who had one-year left on his contract – got a new four-year, $20 million contract after being traded by the Chicago Bears to the New York Jets on Tuesday. Jones' deal included $13.1 million in guaranteed money.
Baltimore, which released Jamal Lewis on Feb. 28, is giving up third- and seventh-round picks in this year's draft and a third-rounder in 2008 for the right to acquire McGahee.
McGahee, with one year left on his original five-year contract, was a shocking pick for the Bills in 2003. He had established himself as yet another star from the University of Miami backfield that also featured Frank Gore, Clinton Portis and Najeh Davenport this decade. However, he suffered a catastrophic knee injury in the national championship game against Ohio State in the Fiesta Bowl that year and subsequently missed his rookie campaign.
In his three years on the field, McGahee has rushed for 3,365 yards and 24 touchdowns.