The Baltimore Ravens announced on Wednesday that quarterback Joe Flacco has agreed to terms on a three-year contract extension. The deal is set to run through 2021, and Ian Rapoport is reporting the deal includes a $40 million signing bonus.
Flacco had previously been signed through 2018, so this extension stacks on top. Flacco was due to $18 million, $20.6 million, and $20 million the next three seasons. With $10.5 million in prorated bonus money, his cap hits were going to be $28.55 million, $31.15 million, and $24.75 million over those three seasons. Odds are pretty good some of that base salary was converted into the signing bonus. A bonus pro-rates over the length of the deal or five years, whichever is shorter. That would mean $8 million prorated bonus hits the next five seasons. His $28.55 million cap hit this year likely turns into something more along the lines of $19 or $20 million.
The Ravens hold the No. 6 pick in the draft. There has been any thought to them picking a quarterback. Instead, they are likely looking for an impact player on the defensive side of the ball. They also might look offensive line. There will be some intriguing talent there, but Ozzie Newsome has already said the Ravens are more than willing to deal the pick to a team in need of a quarterback.
Todd McShay sent Ronnie Stanley to the Ravens in his latest mock draft, but I think defense is more likely. I am skeptical the 49ers spend a first round pick on a quarterback. If the 49ers are planning on waiting for a later option at quarterback, I have to think they are hoping the Rams, or another team deals up with the Ravens to get their quarterback.
On a completely related note, this news resulted in two fantastic tweets:
ELITE https://t.co/BUTFAaJNww
— Torrey Smith (@TorreySmithWR) March 2, 2016
Joe Flacco is now under contract through the 2021 season: https://t.co/5NdF2WYn6M pic.twitter.com/vQH3VWR0Nk
— Baltimore Ravens (@Ravens) March 2, 2016