I am not a fan of keeping a player for the sole reason that he was a great player and that it'd be a sentimental value that he retired a home team player. There are very few players special enough to even consider it.
It worked for Cal Ripken and Ray Lewis because, although they were shells of their glory days by the time they retired, neither were hard liabilities to their team in their end days. Both gave what could be considered adequate or a bit below adequate performances their last seasons.
I don't know what caused Suggs' sacks to drop off so precipitously the second half of the season. Had teams discovered a weakness in his game? Was he hurt? Maybe he'll address those questions in his presser today.
Struds raised an excellent point. He did play a more complete linebacker in 2013 than he had previously. If the Ravens can get another couple of years of that, this extension might be a good deal.