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Flacco agreed to terms Wednesday with the Colts on a one-year contract worth up to $8.7 million, Adam Schefter of ESPN reports.

Flacco's deal reportedly includes $4.5 million guaranteed. The reigning NFL Comeback Player of the Year is coming off an impressive showing with Cleveland last season, and he's now slated to replace Gardner Minshew as the top backup to second-year quarterback Anthony Richardson (shoulder). All expectations in Indianapolis are that Richardson will be ready for training camp and fully cleared well ahead of Week 1, but Flacco makes for a capable backup should he be required to take the field during the 2024 season. Even if Richardson maintains health all season, Flacco should at least make for a valuable mentor for the young signal-caller.

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