Joe Flacco and the Ravens have agreed to a 3-year extension according to Pro Football Talk. The deal reportedly includes a $40M signing bonus. The Russell Street Report staff reacts to the big news, which frees up money for the Raven’s many needs.
Joe Flacco, Baltimore Ravens have agreed to terms on a new deal, per source.
— ProFootballTalk (@ProFootballTalk) March 2, 2016
Full details aren't yet available on Joe Flacco's contract extension, but I'm told Flacco got a $40M signing bonus. Not bad.
— Ian Rapoport (@RapSheet) March 2, 2016
If Joe Flacco got a $40M signing bonus with his new deal, it's the biggest one ever in an NFL contract. It was Drew Brees at $37M.
— Joel Corry (@corryjoel) March 2, 2016
Flacco's new deal expected to save the Ravens roughly $6M in cap space this season and over $13m in cap space the next two years…
— Jason La Canfora (@JasonLaCanfora) March 2, 2016
So, I was very close. Split $40M bonus into bonus/option. Hit/close on BaseSalaries. Nailed $125M total & new $ avg pic.twitter.com/46Y2nVxLip
— Brian McFarland (@RavensSalaryCap) March 2, 2016
[RELATED: Cap guru Brian McFarland’s quick thoughts on Flacco’s extension]
Derek Arnold
We all knew this was a three-year deal back when he signed it, but it’s a relief to finally make that prediction official (especially after the posturing done by both sides previously this offseason). Let’s all hope Joe goes back to his “iron man” self after he recovers completely from this knee injury, and here’s to seeing Joseph hold up another Lombardi Trophy in the not-so-distant future. The possibilities during free agency for the Ravens just got a lot more interesting as far as accomplishing that end.
Brian Bower
Great news for the Ravens and Joe Flacco on the contract extension that will keep him in Baltimore through 2021.
The move, which will free up valuable cap space now allows Ozzie and company to aggressively go after Kelechi Osemele.
It appears as if Linta and Ozzie played nicely.
Joe Polek
It is a good move for both parties. Flacco gets more guaranteed money while the Ravens get Cap room. It doesn’t necessarily mean Flacco is guaranteed to stay in Baltimore until 2021 but both parties get a better deal for next couple years.
Mike Fast
It was inevitable that Flacco would have to re-work his now former contract. However, until it actually happened, I’m sure there was some anxiety at One Winning Drive.
You want your best player to be under contract, and you hope he won’t gouge your already limited budget.
This is an extension, which is good for two reasons: 1) It’s a de facto re-structure which should significantly lower Joe’s cap numbers, and 2) It keeps him in Baltimore longer, which a re-structure wouldn’t have done.
Another plus is that this gets done one full week before free agency begins, which should lend more clarity and spending money to Ozzie and Co.
Tyler Lombardi
This is great news for the Ravens and their quarterback. As a franchise signal caller, you become a bigger part of the organization than any of your teammates. Your reputation is directly correlated with that of your team. Joe Flacco gives his team the opportunity to build a better team around him. With the money they save, they can sign at least two high-value players.
Adam Bonaccorsi
Seeing Philly just hand Sam Bradford laughable money and our Beltway brethren slap a franchise tag on a QB who can’t beat a team with a winning record makes this Flacco extension feel that much better!
Obviously this deal was the elephant in the room that needed addressed to free up some cap space, but plenty of internal work remains as the team looks to get Tucker and KO locked up with long term deals as well. Regardless of where they spend it, the added cap space gives the Ravens the freedom they absolutely needed to improve this team moving forward.
Thanks Joe!
Mark Weingram
Of course it’s exciting that this process wrapped quickly, and creates some financial flexibility in free agency. I am onboard with Tony Lombardi’s earlier instinct that the Ravens need to make an aggressive play for a pass rusher like Olivier Vernon (who signed the transition tag). But the reality is that the rookie slotting with the 6th pick in each round, RFA tenders, retaining some ERFAs, reasonable resignings such as McClellan, and unsexy depth signings in the secondary and elsewhere eat up space quickly. This time last year I thought that moving Ngata would enable us to close the $1-$2 million per year gap in negotiations with Torrey Smith, and it didn’t. I am cautiously optimistic, but don’t be surprised if KO gets away and we don’t bring in a UFA defensive playmaker either.
Tony Lombardi
It’s great to see that the Ravens front office and Joe Linta are on more amicable terms and were able to get the extension completed in a timely fashion. Now the team’s offseason and free agency plans can take shape in a meaningful way. Their “credit card” now has an available balance. It’s now time to make the most of it.
Ryan Jones
As stated from the get go this deal could be a win-win for the Ravens and Flacco, and despite the early staring contest between Joe Linta and Ozzie Newsome it ultimately will be. The Ravens get the much needed cap space they need, and Joe gets a boatload of cash and the reputation as a team player.
An early report from Jason La Canfora says the deal will clear up around $6 million in cap space this year, and roughly $13 million in cap space over the next two seasons. While the contract probably could have been structured to save the Ravens more this season they are smart for spacing out the cap savings over the next couple seasons as well. They needed relief in 2017 even more with Joe’s initial cap hit at $31 million.
Since the savings this year appear to be on the lower end of the initial projection expect to see a handful of other cuts over the next few days.
Drew Forrester
I’m sure Joe and Joe are sending Sam Bradford and his agent a box of chocolates today.
What could be better than seeing an average guy get a boatload of unwarranted money to drive up your price?
I’m glad Flacco’s here for three more years. If the Ravens get him some real receivers, he might even be worth that money (again).
Kyle Casey
The Ravens keep their franchise QB locked up until 2021, free up cap space for 2016 and get the biggest offseason challenge completed before free agency. Nothing to complain about here. Now let’s see if the front office can bolster Flacco’s supporting cast with the new cap space.
Ken McKusick
Without terms, we can’t really analyze this properly. Joe’s a much better QB than his 2015 statistics indicate, but he hasn’t approached his 2012 productivity (playoffs included) in any of the last 3 seasons. Knowing only some soft information…his rehab is going well, there is some cap savings, the Ravens won’t be starting over at QB any time soon…I’m initially optimistic about the deal.
