Joe Flacco Agrees to New Contract Deal With Baltimore Ravens

The Ravens chances at repeating just got a little bit better. 

Quarterback Joe Flacco and the Baltimore Ravens have just agreed to a new contract, according to FoxSports' Jay Glazer. Details haven't been disclosed, but it's speculated to be one of the biggest, if not the biggest in NFL history in NFL history. 

Talks between team executives and Flacco intensified this week as the March 4 franchise tag deadline was quickly approaching. The Ravens had the option of issuing an unrestricted tag, enabling other teams to negotiate a deal with the Super Bowl winning quarterback or an exclusive tag which would've prevented other teams from talking to him, but would've guaranteed the superstar a one-year $20 deal. 

Franchising Flacco may have been an economical short-term solution, but it would have also have been a public relations and personnel nightmare. The deal not only locks up Flacco for several years, but now enables the Ravens to get to work on signing their remaining free agents. It also bashes the hopes of the few, albeit adventurous teams who would've paid the estimated $16-$20 million a year Flacco was seeking and the two first-round draft picks that the Ravens would receive, per the NFL Collective Bargaining Agreement. 

Despite the retirement of Pro Bowler Ray Lewis, the Ravens are primed for another Super Bowl trip. Flacco took the Ravens on a historic run, defeating both the New England Patriots and The Denver Broncos along the way. The Ravens' four-game path to the Super Bowl also featured a defeat of the 2012 No. 1 draft pick Andrew Luck. Flacco solidified his place among the elite, equaling a record for playoff efficiency passing for 11 touchdowns and no interceptions in the playoffs. The fifth-year veteran threw 73 of 126 for 1,140 during that stretch.

Flacco's deal is expected to meet or exceed those of the top quarterbacks in the league. In 2012, Peyton Manning signed a five-year deal with the Denver Broncos for $96 million. In the same year, quarterback Drew Brees re-signed with the New Orleans Saints for a five-year, $100 million contract with $60 million guaranteed.