Joe Flacco Contract Details

Update:

Albert Breer reports that the Baltimore Ravens and QB Joe Flacco will finalize a six-year agreement sometime on Monday. The Ravens and Flacco still need to details regarding marketing, but it’s not expected to be anything major.

Adam Caplan reports that Flacco will receive a six-year deal worth $120.6 million that includes $52 million guaranteed.

• Year 1: Brees $40 million – Flacco $30 million
• Year 2: Brees $50 million – Flacco $51 million
• Year 3: Brees $61 million – Flacco $62 million

Caplan adds that Brees’ contract included higher guarantees.

Flacco’s cap figure for the 2013 season will be a reasonable $6.8 million, but his cap number will jump to a staggering $29 million after 2016, according to Breer. He receives a $29 million signing bonus and will have separate option bonuses of $15 million and $7 million in his contract.

• Year One – $30 million
• Year Two – $51 million
• Year Three – $62 million

It appears as though the Ravens will renegotiate his contract after the 2015 season and before his ridiculous $29 million cap hit comes into play.

Because Flacco’s cap number is $6.8 million for 2013, the Ravens should have a little over $11 million in cap space to work, assuming that my math is correct.

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Jay Glazer is reporting that the Baltimore Ravens have reached an agreement with QB Joe Flacco.

Ravens have agreed to a new contract with QB Joe Flacco. He will sign it on Monday

— Jay Glazer (@JayGlazer) March 1, 2013

Glazer adds that they are still “waiting on terms” and the deal will not be finalized until Monday.

ESPN’s Adam Schefter reports that the Flacco will receive a six-year deal worth $120.6 million, which will make him the “highest paid player in NFL history.”

“While I was in flight earlier today, the Ravens verbally agreed to all of our terms, said Flacco’s agent Joe Linta,” per Adam Caplan. “However, Joe and I have not received the contract back to review. Once we get the contract and review it (assuming there are no issues), Joe will sign it.”

Chris Mortensen reports that the Ravens will need to hammer out some details over the weekend, but Flacco will sign the deal on Monday. A press conference is expected to be held on Monday as well.

We had Flacco listed as the No. 1 best available free agent in our Top 50 Free Agents list.