BALTIMORE (WJZ) — The Ravens and quarterback Joe Flacco have agreed to a three–year contract extension, locking down Flacco through the 2021 season.
Joe Flacco’s contract extension is worth $66.4 million with $44 million fully guaranteed. This restructuring will give some much-needed cap room to the Ravens. According to CBSSports.com’s Jason La Canfora, Flacco’s new deal is expected to save the Ravens roughly $6 million in cap space this season and $13 million in the next two years.READ MORE: The CDC Updated Its Mask Guidelines. What To Know About 'The Highest Level Of Protection'
Baltimore now has the ability to be more aggressive during free agency and work on keeping players like Kelechi Osemele.READ MORE: Coalition Of Officials Announce Bill Requiring Establishments On The Block To Close By 10 p.m., Citing Uptick In Violence
Flacco reportedly got a $40 million signing bonus, per NFL Media’s Ian Rapoport. It’s a win-win for both sides.
Flacco’s knee injury ended his streak of 122 consecutive starts, which ranked fifth in the league, but the Ravens have faith in Flacco to rebound to his usual form for the 2016 season.MORE NEWS: Man Killed In West Baltimore Shooting
The Ravens will hold a 2 p.m. press conference today with Ozzie Newsome, John Harbaugh and Joe Flacco.