Ray Rice: Baltimore Ravens running back receives two-game suspension from NFL; 'I failed in many ways'

Baltimore Ravens runningback Ray Rice has been handed a two-game suspension by the NFL following his arrest for domestic violence, according to NFL Media insider Ian Rapoport.

Rice will miss the first two games of the regular season but will be allowed to play preseason games and participate in training camp. He was also fined the amount of three game checks ($529,411.24), according to ESPN. This amount equals two game checks for the 2014 season and one game check for the 2013 season.

The league is an entity that depends on integrity and in the confidence of the public, and we simply cannot tolerate conduct that endangers others or reflects negatively on our game," NFL commissioner Roger Goodell wrote in a letter to Rice informing him of the suspension. "This is particularly true with respect to domestic violence and other forms of violence against women."

He added: "You will be expected to continue to take advantage of the counseling and other professional services you identified during our meeting.

"As you noted, this additional assistance has been of significant benefit to you and your wife, and it should remain a part of your practice as appropriate."

Rice was arrested for allegedly striking Janay Palmer, his then-fiancée, unconscious in an Atlantic City casino elevator on Feb 15. The arrest came after casino video footage surfaced of Rice dragging his seemingly unconscious fiancée out of the elevator. He pleaded not guilty to third-degree aggravated assault. The 27-year old Rice was able to avoid trial by through his acceptance into a pretrial intervention program in May.

Rice spoke about the ruling in a statement released by the Ravens.

"It is disappointing that I will not be with my teammates for the first two games of the season, but that's my fault. As I said earlier, I failed in many ways. But, [wife] Janay and I have learned from this. We have become better as a couple and as parents," Rice said in the statement according to the Baltimore Sun. "I am better because of everything we have experienced since that night. The counseling has helped tremendously."

The two games Rice will miss are against the Cincinnati Bengals in Week 1 and the Pittsburgh Steelers in Week 2.