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Breaking down Joe Flacco's $120.6 million contract

Now that Ravens quarterback Joe Flacco's $120.6 million contract has been filed, here's a full breakdown of the deal that makes him the highest-paid player in NFL history.

The Super Bowl Most Valuable Player received a $29 million signing bonus and option bonuses of $15 million and $7 million. The option bonuses are scheduled to be paid out in 2014 an 2015, respectively.

The deal includes a $62 million payout through the first three years.

In 2013, Flacco gets a fully guaranteed base salary of $1 million for a total first-year compensation of $30 million and a salary-cap figure of $6.8 million.

In 2014, Flacco has a $6 million base salary that's guaranteed for injury only, but that voids once the first option is paid. His salary-cap figure is $14.8 million in the second year of the deal.

In 2015, Flacco gets a $4 million base salary that's guaranteed for injury only, which voids when the first option is paid. His salary-cap figure is $14.55 million.

In 2016, the salary cap figure inflates to $28.55 million, primarily due to an $18 million base salary with $12 million of that guaranteed for injury only, although that guaranteed portion reduces to $3 million when the first option of $15 million is exercised, and voids when the second option of $7 million is exercised.

The deal effectively operates as a three-year, $62 million agreement since the contract is likely to be restructured after three years.

Here's the remainder of the deal, which is expected to be adjusted.

In 2017, Flacco has a $20.6 million base salary and a $31.15 million salary-cap figure.

In 2018, Flacco has a $20 million base salary and a $24.75 million salary-cap figure.

There are injury guarantees for the $6 million in 2014, $4 million in 2015 and the $12 million, but oncethe option for 2017 is exercised or the non-exercise fee is paid in 2014

The contract was negotiated by Ravens vice president of football administration Pat Moriarty and Joe Linta, Flacco's agent.

awilson@baltsun.com

twitter.com/RavensInsider

Copyright © 2014, The Baltimore Sun
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