The Ravens have agreed to a new six-year, $120.6 million contract with quarterback Joe Flacco, FOXSports.com has learned.
Flacco will reportedly sign on Monday and will become the highest paid player in NFL history. New Orleans Saints quarterback Drew Brees is currently the highest paid player, averaging $20 million per year. Flacco was set to become an unrestricted free agent on March 12.
Flacco led the Ravens to a victory over the 49ers in Super Bowl XLVII and was named the game's MVP. Drafted in the first round back in 2008, Flacco became the team's starting quarterback from Day 1.
He has thrown 102 touchdown passes in 80 career games in Baltimore. His teams have won the AFC North twice during his tenure and he has led Baltimore to three appearances in the AFC Championship Game.
Flacco and his agent Joe Linta had reportedly been seeking a lucrative contract, but were still willing to make a deal that would allow the Ravens to keep other important pieces and stay under the salary cap.
"Joe's not that kind of guy," Linta said. "Joe absolutely wants to work with the Ravens to ensure that they're not impacted cap-wise. Joe doesn't want to see anybody get cut as a result of this deal."
It was assumed that if a deal wasn't reached, the Ravens would have used their franchise tag on the quarterback by the March 4 deadline.