It's unclear when the contract was proposed, as the Ravens reportedly dropped out of the running for Bryant on Monday upon securing the services of Willie Snead as a restricted free agent from the New Orleans Saints.
Bryant is believed to be looking for a one-year contract, which would allow him to re-enter the open market in 2019 in search of a long-term deal. The Ravens were in favor of a multi-year deal for salary-cap purposes, according to Ian Rapoport of NFL Network.
The three-time Pro Bowler isn't expected to sign with a team until after the NFL draft, which begins Thursday evening and runs through Saturday afternoon.
Bryant, who turns 30 in November, posted 69 catches for 838 yards and six touchdowns last year.