Ravens WR Steve Smith (Achilles) has passed his physical and been activated from the PUP list. He's still not expected to practice until Monday, per insider Jeff Zrebiec. But Smith is on track to be ready come Week 1. A 37-year-old coming off a significant injury would usually be hands-off in fantasy football. But betting against Smith rarely ends well. He's at least worth considering as a late-rounder. We're curious to see how playing time is divvied between Smith, Mike Wallace and Kamar Aiken.

Ravens WR Steve Smith (Achilles) will open training camp on the active/PUP list. He's eligible to be activated at any time and still play Week 1. Of course, there's no guarantee that Smith is ready by then after tearing his Achilles in November. He's previously said that he needs to be able to "do something" in camp in order to play this season. Smith shouldn't be drafted as more than a WR5 at this point. WR Breshad Perriman (knee) and RB Trent Richardson (knee) were also placed on the active/PUP.

Ravens WR Steve Smith intimated that he needs to be able to participate in training camp in order to play this season.  "I just know I have to be able to do something in training camp to be able to play for the season," he said. "That's just the way I operate. I can't go from doing absolutely nothing [and] sitting on my butt for all of training camp and then go out there and play."  Smith will be about 9 months removed from his torn Achilles when camp opens.  He didn't do anything in OTAs but was at least jogging at a charity softball game on Sunday.  Smith admitted, though, that he doesn't have a concrete timetable for return.  We'll continue to track his progress.  Baltimore needs him badly after losing WR Breshad Perriman potentially for the entire 2016 season.

ESPN reports that Ravens WR Breshad Perriman suffered a partially torn ACL in his left knee. He'll reportedly see Dr. James Andrews on Monday to see if the injury will require season-ending surgery. A PCL injury in his right knee cost Perriman his entire rookie season. A pair of tattered knees isn't a great way to start your pro career. We'll see about the final prognosis, but you certainly shouldn't draft Perriman right now. If he misses the season, Mike Wallace, Kamar Aiken, Steve Smith and whoever wins the starting TE spot get at least a slight fantasy boost. Baltimore's training camp will be among the most interesting to watch.

The Ravens signed WR Mike Wallace to a 2-year deal worth $11.5 million, per ESPN’s Adam Schefter. Now 29, Wallace is coming off a disappointing year in Minnesota that produced a 39-473-2 line. But he’s always proven durable, while he should mesh well with Joe Flacco’s deep ball accuracy. Wallace also provides insurance for Steve Smith and Breshad Perriman, who both return from injuries.

Ravens WR Steve Smith (Achilles) expects to be ready for the start of the 2016 season.  "In my little world, I would love to be 100 percent and absolutely do nothing in training camp," he said. "That would be perfect. I’m not sure how that will flow with [coach John] Harbaugh."  We wouldn't expect to hear anything different from Smith, who tore his Achilles on November 1.  He'll be about 10 months removed from that serious injury when this season kicks off.  Smith reportedly hasn't had any setback in his rehab, but his road back is made even tougher by the fact that he turns 37 in May.  We'll continue to keep an eye on his progress.

Ravens WR Steve Smith announced that he'll return for the 2016 season.  He has another year remaining on his contract with the Ravens.  Smith remained effective this season, averaging 6.6 catches and 96 yards per game.  But he turns 37 in May and will be attempting to return from a nasty Achilles injury.  He'll be risky to draft as anything more than a WR3 this summer.

Sports Illustrated's Peter King hears that Ravens WR Steve Smith is already talking about rehabbing his torn Achilles tendon and returning in 2016.  He announced before this season that it'd be his last, but there was already talk of him backing off that claim before yesterday's injury.  And he's not the type of dude who will want to go out like this.  Of course, a torn Achilles is a difficult injury to return from, especially for a guy that turns 37 in May.  Smith is no lock to make it back for 2016 -- or be effective.  But betting against him usually doesn't pay off.

According to Ravens HC John Harbaugh, WR Steve Smith suffered a torn Achilles in Sunday’s win over San Diego. That’s a season-ending injury for the 36-year-old, who already announced that he will retire at the end of this season. With Smith out, guys like Kamar Aiken, Chris Givens and Crockett Gillmore figure to see larger roles. Smith's 15th season ends with 46 catches, 670 yards and 3 TDs.

Ravens WR Steve Smith injured his right foot in the 3rd quarter of Sunday's game.  He immediately called for trainers and couldn't put any weight on the leg as he was helped off the field.  We'll update Smith's status, but don't expect him to return today.

Ravens WR Steve Smith (knee) is active for today's game against the Chargers. He tweaked his knee on Thursday but practiced on Friday and was listed as probable. Smith is a solid WR2 in what should be a high-scoring game.

Count the agent for Ravens WR Steve Smith among those who don't believe the veteran will retire after this season. "I know this guy better than anybody but his wife. I’ve told him, ‘I don’t think that you’re really going to retire," Derrick Fox told ESPN's Jim Trotter. "The guy is just an insane competitor, and I think as long as his body works appropriately he’s really going to have a hard time next August saying, ‘Oh, wow. Guys are going to camp.’ He’s never experienced it in his entire life, and he’s got a lot left in the tank.” Guess we'll see if the Steve Smith Farewell Tour carries on past 1 season.

Ravens WR Steve Smith (knee) is probable for this weekend’s game against the Chargers. He tweaked his knee on Thursday but returned to practice on Friday. He’s safe to get into fantasy lineups in a game with shootout potential.

Ravens WR Steve Smith "tweaked" his knee in Thursday's practice, according to insider Jeff Zrebiec.  Smith was officially listed as limited.  We haven't seen anything to suggest that he's in danger of missing this weekend's game against the Chargers, but we'll keep a close eye on what he's able to do in Friday's practice.

Ravens WR Steve Smith (back) is active for today’s game against the 49ers. He didn’t look anywhere close to 100% in practice this week, according to the Baltimore media. Consider Smith a risk/reward WR3 for Week 6.

ESPN's Adam Schefter hears that Ravens WR Steve Smith (back) is expected to play against the 49ers today.  Smith is 1 of the toughest dudes in the league, but the report is still surprising because he didn't sound optimistic on Friday.  We won't find out Smith's official status until 3 pm ET.  He'll be a risk/reward WR3 if active.

Ravens WR Steve Smith (back) put in 3 limited practices this week and is listed as questionable for Sunday’s game against the 49ers. He didn’t sound optimistic about his availability on Friday, though. “My expectation for playing is very low,” Smith said. With Ravens-49ers not kicking off until 4:25 pm ET, Smith belongs on fantasy benches this week.

ESPN Ravens reporter Jamison Hensley says that WR Steve Smith "didn't have a strong burst" as he participated in all drills during the open portion of Thursday's practice. The fact that Smith has practiced both days this week seems to point to him playing against the Niners. But don't expect him to be 100%. That'll leave more guesswork in deciding whether to start the veteran. Check our Week 6 WR rankings through the weekend to see who we'd start over an active Smith.

Ravens WR Steve Smith (back) returned to practice on Wednesday.  He was running full speed but didn't look comfortable trying to slow down or change direction, according to insider Jamison Hensley.  We're betting on tough-guy Smith playing against the 49ers this weekend, but we'll continue to monitor his progress over the next few days.

Ravens WR Steve Smith (back) is inactive for today’s game against the Browns. He was listed as doubtful but never had a shot to play. Baltimore is hoping to get Smith back for Week 6. Kamar Aiken is the odds-on favorite to lead Baltimore in targets today, but it figures to be a run-heavy attack. Consider Aiken a low-end WR3.