The New York Jets are signing former Ravens and Broncos quarterback Joe Flacco to a one-year deal, his agency JL Sports announced on Friday. As for the particulars to this one-year deal, CBS Sports NFL Insider Jason La Canfora reports that the contract is worth $1.5 million with incentives that can bring it up to $4.5 million. Flacco will now compete with the likes of David FalesMike White and rookie James Morgan to be the backup to current Jets franchise quarterback Sam Darnold

Flacco spent the 2019 season with the Denver Broncos after his 11-year tenure with the Baltimore Ravens came to a close. The former Super Bowl MVP's stint in Denver wasn't as fruitful as he hoped, playing in just eight games and going 2-6 as the starter before landing on injured reserve due to a neck injury. Denver also saw the emergence of rookie quarterback Drew Lock in Flacco's absence, which effectively took his starting job off the table. 

The 35-year-old underwent neck surgery in April and ESPN's Adam Schefter reports that he is expected to be ready to participate in training camp, albeit when there is no contact. He won't be cleared for contact until closer towards the regular season in September. 

That recovery time may not impact Flacco much in the coming weeks as he begins learning the ins and outs of the Jets offense, as no clubs are currently holding traditional offseason workouts due to the COVID-19 pandemic. Instead of waiting until he's fully healthy to sign with a team, Flacco is making the savvy decision to ink a deal now and immerse himself in the playbook to give himself a better chance to compete for the job once he can actually hit the field.

This move also reunites Flacco with current Jets GM Joe Douglas, who was a high-ranking scout with the Ravens from 2000-15, including during the 2008 draft when Flacco was taken No. 18 overall. 

For his career, Flacco owns a 61.9 completion percentage and has thrown for over 40,000 yards to go along with 218 touchdowns and 141 interceptions.