After "sleeping on it", Flacco officially agreed to the contract Wednesday morning. The deal is worth $66.4 million, including an NFL record $40 million signing bonus. The deal keeps the QB in Baltimore through 2021.
The Ravens wasted little time to defend the move, claiming this was not a move to clear up salary cap space, rather a deal to keep their franchise quarterback with the team for six more years.
The move does lower Flacco's cap number from $28.55 million, which was the third highest in the league, creating $6 million in cap space as free agency looms.
The 31-year-old Flacco won a Super Bowl in 2012, and has 85 wins, all with the Ravens, which ranks fourth among starting quarterbacks since 2008. He is Baltimore's all-time leader in yards, touchdowns, completions, and attempts.
He did suffer a torn ACL at the end of a tough 2015 campaign, although the team is expecting their QB to make a full recovery.
The signing bonus is $3 million more than any other NFL player in history. The contract also includes $44 million guaranteed, although Flacco claims that the money was not the intriguing part of the deal.
The Ravens' quarterback says winning is all he is worried about, stating that the deal is "a huge window to go win another Super Bowl."