On Wednesday, Ian Rapoport of the NFL Media, reported that the Baltimore Ravens and their franchise quarterback Joe Flacco, have agreed to terms on a three-year contract extension that will keep the Super Bowl XLVII winner in Baltimore through the 2021 NFL season. Rapoport also reported that Flacco will receive a whopping $40 million signing bonus. The Ravens will hold a press conference at 2:00 p.m. EST with Flacco on Wednesday.
The terms of this contract between the Ravens and their Pro Bowl quarterback will reduce his $28.55 million cap number for 2016. From 2013 through 2015 of last season, the former Delaware standout made $62 million, with $36 million total going against the cap. As of now though, it’s not yet known what his new contract is worth.
The new deal, as reported by Jason La Canfora of CBS Sports, will save the Ravens roughly $6 million in cap space this season, as well as $13 million over the next two seasons. The new deal will include bonuses for any quarterback records set by Flacco with more bonus money for “other metrics,” as reported by La Canfora.
Last season was a tough year for both Flacco and the Ravens as they started off the season by going 1-6 before finishing a disappointing 5-11. Despite Baltimore’s brutal season, Flacco was completing a career-high 64.4% of his passes while throwing for 2,791 yards and 14 touchdowns against 12 interceptions. Then ten games into the 2015 season, Flacco went down with a torn ACL and MCL.
“It’s just frustrating because you’re not winning the game. At the end of the day, it doesn’t matter how it happens. It’s frustrating,” Flacco told reporters back in October. “You go home and you think about it. You think about it in the locker room, on the plane, on the bus. It’s just the nature of what we do.”
Flacco, 31, was drafted in the first-round (18th overall) of the 2008 NFL Draft by the Baltimore Ravens. During his eight year career with the Ravens, Flacco has compiled a 75-47 record as their starter, while throwing for 28,322 yards with 162 touchdown passes and 102 interceptions.
Main Photo: CINCINNATI, OH – DECEMBER 29: Joe Flacco #5 of the Baltimore Ravens drops back to pass during the game against the Cincinnati Bengals at Paul Brown Stadium in Cincinnati, Ohio. (Photo by John Grieshop/Getty Images)