Ravens quarterback Joe Flacco huddled with his agent, Joe Linta, on Sunday to go over the finer points of his $120.6 million contract that includes a $29 million signing bonus and a total of $52 million in guaranteed money.
Now, the details of the contract have been finalized. Among them: $30 million paid out in the first year, $51 million in the first two years and $62 million in the first three years, topping Drew Brees' $61 million payout in the first three years of his $100 million contract.
Flacco is set to apply his signature to the contract Monday at roughly 2 p.m., a deal that will make him the highest-paid player in NFL history. After signing the contract, Flacco will then conduct a news conference at team headquarters in Owings Mills.
The deal includes salary cap figures of $6.8 million in the first year, leaving the Ravens $11.263 million under the NFL salary cap limit of $123 million. The salary cap figure balloons to $29 million in the fourth year, a structure that will likely mean the deal will be restructured after the first three years.
The Ravens avoided having to make Flacco their franchise player by hammering out an agreement in principle Friday night with the Super Bowl Most Valuable Player.
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