Ravens, Joe Flacco agree to terms on new contract

Joe Flacco is No. 1, indeed. (USATSI)

Joe Flacco is getting paid like a top-five quarterback. CBSSports.com's Mike Freeman and Jason La Canfora report the Ravens and Flacco have agreed to terms. A source tells La Canfora that the deal is for six years and will make Flacco the highest paid player in the league. Freeman confirms that Flacco will sign the contract Monday, and that the quarterback's average annual salary could end up in the $19.5 million range.

FoxSports.com's Jay Glazer first broke the news.

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Heading into 2012, conventional wisdom had the Ravens letting Flacco, who could be equal parts brilliant and inconsistent, play out the final year of his rookie contract. Tabling negotiations until the offseason turned out to be the right move for the former first-round pick, who said last offseason that he thought he was the NFL's best quarterback. Everybody had a good laugh at the time. But after a lights-out performance throughout the postseason that culminated in a Ravens championship (and Super Bowl MVP honors for the quarterback), Flacco is about to cash in on his success.

The Ravens can now turn their attention to their other soon-to-be free agents, most notably linebackers Dannell Ellerbe and Paul Kruger, and safety Ed Reed.

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CBS Sports Writer

Ryan Wilson has been an NFL writer for CBS Sports since June 2011, and he's covered five Super Bowls in that time. Ryan previously worked at AOL's FanHouse from start to finish, and Football Outsiders... Full Bio

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