It's expected that the Baltimore Ravens and quarterback Joe Flacco will agree to a new deal at some point this week, which will create much-needed salary-cap room for the Ravens.
So, what does Flacco get? A likely return to being one of the highest-paid players in the NFL.
As an incentive to rework his deal, the Ravens probably have to give Flacco more than the $58.6 million he's scheduled to make in the final three years of his current deal. If Flacco receives more than $61 million in guaranteed money, he will rank in the top five in the league in guaranteed money.
According to ESPN Roster Management System, the top five players in guaranteed money are: Philip Rivers ($65 million), Eli Manning ($65 million), Ben Roethlisberger ($64 million), Russell Wilson ($61.5 million) and Colin Kaepernick ($61 million).
While this will likely lead to criticism that Flacco is overpaid, history shows that his time among the highest-paid players will be short-lived. When he signed his previous contract, his $51 million in guaranteed money ranked third in the league behind Tom Brady ($57 million) and Drew Brees ($55 million). Three years later, Flacco ranks 18th in guaranteed money.
This is the price of doing business in the NFL if you want to keep a franchise quarterback. Flacco has watched Matt Ryan ($59 million), Tony Romo ($55 million) and Jay Cutler ($54 million) all sign deals with more guaranteed money.
What shouldn't change is Flacco's standing among quarterbacks in average per year. He is one of nine quarterbacks who average over $20 million per season, and he would move into the top five if he averages more than $20.9 million per season.
None of this comes as a surprise. Both sides acknowledged that Flacco's contract would have to be addressed after three years, and a source told ESPN's Adam Caplan that they've made progress in talks during the NFL combine.
This isn't about Flacco being greedy. This is about leverage. The Ravens won't be able to improve the team if they carry Flacco's $28.55 million deal, and there is no chance of Baltimore cutting him. That's why the Ravens were the ones who approached Flacco about a new deal because they want more cap space, and it's only right that Flacco gets something in return to help out the team. The sides just have to determine what's a fair deal, and that should still result in Flacco getting paid quite handsomely.
Source: Ravens' Joe Flacco should soon again rank in top 5 in guaranteed money
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