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WHAT HAPPENED: A little less than a month after quarterback Joe Flacco led the Ravens to a Super Bowl title, the team rewarded Flacco with a six-year, $120 million contract that includes $52 million in guaranteed money. At the time, the contract made him the highest paid player in NFL history. He's now third behind Green Bay Packers quarterback Aaron Rodgers and Atlanta Falcons quarterback Matt Ryan.
SIGNIFICANCE: The Ravens locked up their franchise quarterback for the long-term. They also avoided having to resort to using their franchise tag on Flacco. If Baltimore had been forced to use the franchise tag, Flacco would have counted nearly $15 million against the salary cap until agreeing to a new deal. But the deal he agreed to is actually favorable for the Ravens cap-wise. Flacco counts just $6.8 million against the cap this year, which gave Baltimore more flexibility in free agency than it would have had otherwise.
MEMORABLE QUOTE: "I'm not going to do anything crazy," Flacco said. "That's about all the celebration that I can take is kind of going out and enjoying a nice little time with the people that are close to me and just kind of looking at each other saying, 'Man, can you really believe where we are?' We've done that so many times over the past month, just looked at each other - my dad, my wife - and just shook our heads and laughed. Super Bowl champs. It doesn't get any better than that."
UPDATE: The Super Bowl MVP has had an uneven 2013 season. He set a new career-high for interceptions just 10 games into the year and had just one more touchdown (18) than interceptions (17) through 14 games. But Flacco has started to play better of late. The players around him have gotten healthier. And he has the Ravens again looking dangerous around playoff time.

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