Ravens quarterback Joe Flacco huddled with his agent, Joe Linta, on Sunday to go over the finer points of his $120.6 million contract that includes a $29 million signing bonus and a total of $52 million in guaranteed money.
Now, the details of the contract have been finalized. Among them: $30 million paid out in the first year, $51 million in the first two years and $62 million in the first three years, topping Drew Brees’ $61 million payout in the first three years of his $100 million contract.
Flacco is set to apply his signature to the contract Monday at roughly 2 p.m., a deal that will make him the highest-paid player in NFL history. After signing the contract, Flacco will then conduct a news conference at team headquarters in Owings Mills.
The deal includes salary cap figures of $6.8 million in the first year, leaving the Ravens $11.263 million under the NFL salary cap limit of $123 million. The salary cap figure balloons to $29 million in the fourth year, a structure that will likely mean the deal will be restructured after the first three years.
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