UPDATE 2:30pm

The Baltimore Ravens announced they have terminated the contract of Ray Rice just hours after the release of the above video. The team made no other comment on the situation. Rice had three years remaining on his contract at $4 million this season, $3 million next season and $3 million in 2016. The Ravens will not owe Rice any money.

The NFL stated today that they never saw the video until today. NFL spokesman Brian McCarthy stated in a release about the video: "We requested from law enforcement any and all information about the incident, including the video from inside the elevator. That video was not made available to us and no one in our office has seen it until today."

TMZ Sports has released new shocking video from inside the elevator that shows Baltimore Ravens running back Ray Rice punching his then-fiancee in the face. Rice was given a two game suspension by commissioner Roger Goodell who was roundly criticized for being too lenient in the punishment. Goodell has since revamped league policy in domestic violence matters and there will be more severe penalties in the future.