Flacco has said previously that his current cap number is “not really realistic” and he’s open to restructuring his deal.
“I want to win so I want to do everything we can to get something done. I don’t know exactly what that is or exactly what’s that going to be because we haven’t talked about it yet,” Flacco said, via the Baltimore Sun. “I’m open to doing something. I want to be here for a while. I want to play football here. That’s what it’s all about.”
He carries a cap figure of $28,550,000 for the 2016 season, and represents one of the easiest sources of cap space for the Ravens. According to OverTheCap.com, restructuring his contract could free up $11,410,000 in available cap space for the Ravens.
Florio mentions that the problem with reworking his contract and converting a large portion of his salary into a signing bonus is that it would result in a massive 2017 cap figure of close to $36.5 million.
With this mind, Florio believes the best course of action for the Ravens will be to sign Flacco to an extension.
Flacco, 30, is in the third year of his six-year, $120.6 million contract that included $52 million guaranteed. He’ll make base salaries of $4 million (2015), $18 million (2016), $20.6 million (2017), and $20 million (2018) over the remainder of the agreement.
Flacco finished the season having thrown for 2,492 yards while completing 64.8 percent of his passes to go along with 13 touchdowns and 10 interceptions over the course of nine games. Pro Football Focus has him rated as the No. 33 quarterback out of 37 qualifying players.