The Baltimore Ravens and QB Joe Flacco have agreed to a three year contract extension that will keep Flacco with the Ravens through the 2021 season. NFL Media Insider Ian Rapoport reports that it's a three-year extension, worth $66.4 million, per a source informed of the negotiations. Flacco will receive a signing bonus of $40 million in the new deal.
Flacco, 31, may not play out the entire extension, but this deal was necessary for salary cap relief for the Ravens as Flacco's deal he was currently on was highly backloaded in salary, this deal gives the Ravens relief toward their salary cap in the 2016 season. The Ravens need all the help they can get. They have the second smallest amount of cap space in the league with free agency exactly one week away. It was reported last week that an extension could slice Flacco's cap number by as much as $9 million.