The Indianapolis Colts have found their backup quarterback. The club has reached an agreement with veteran Joe Flacco on a one-year deal, according to CBS Sports lead NFL insider Jonathan Jones. Per ESPN, the contract is worth up to $8.7 million and includes $4.5 million guaranteed. 

Flacco will now serve as the backup to 2023 first-round pick Anthony Richardson, assuming the former role held by Gardner Minshew, who recently agreed to a deal with the Las Vegas Raiders in free agency. 

The 39-year-old has proven to be a sturdy backup throughout the latter half of his career, serving in that role at various stops including the Jets, Eagles and Browns. Last year, Flacco latched on with Cleveland's practice squad in late November and eventually found himself thrust into the starting role following an array of injuries at the position. 

Joe Flacco
IND • QB • #15
View Profile

Down the stretch, Flacco went 4-1 as the team's starter, which helped the Browns reach the playoffs as a wild-card entry. In those five starts, he completed 60.2% of his passes, averaged 323.2 yards per game, and had a 90.2 passer rating. He also threw for multiple touchdowns in each of his five starts. In the playoff loss to Houston, Flacco completed 73.9% of his throws for 307 yards, a touchdown and two interceptions. Those efforts propelled Flacco to a Comeback Player of the Year award at the NFL Honors back in February. 

Flacco should prove to be a valuable insurance for Richardson, who is entering his second season after being the fourth overall pick in last spring's draft. Richardson flashed in his four games during his rookie season, but his physical style of play as a runner did lead to injuries including a season-ending AC joint sprain. That is what led to Minshew starting 13 games for Indy in 2023 and Flacco has shown an ability to leap into action when need be if Richardson's injury issues continue to plague him in Year 2. 

Flacco entered the league as a first-round draft pick of the Baltimore Ravens in 2008 and famously led the team to a Super Bowl XLVII championship where he also won MVP honors. For his career, Flacco has thrown for 43,936 yards, 245 touchdowns and has a career passer rating of 84.2.