This comes after the organization's decision to cut its star running back after he was shown beating his former fiancee, now his wife, in an incident that took place in an Atlantic City, New Jersey, casino.
Read More NFL suspends Ray Rice indefinitely
The Ravens could not be reached for a comment, but gave notice about the move on their official Twitter page.
The organization is not the only one ridding itself of Rice. The popular video game franchise "Madden NFL," a product from Electronic Arts, decided to remove the running back from its game roster, the company said on its Twitter page Tuesday.
-By Ike Ejiochi, special to CNBC.com