Joe Flacco now the highest paid QB in NFL history

[fair catch fryar]

I think anyone can look at the teams in the league and see that Baltimore has one of the top front offices in the NFL the past decade plus. Newsome is as astute an NFL executive as one can find. The Ravens decision to pay Flacco is one that can't be judged good or bad on its merits as things stand right now...everyone will see in a few seasons.

The offensive leader of your team leads you to a Super Bowl title, is young and a physical specimen, just what is the big deal making him the highest paid at his position RIGHT NOW? In a year, his deal will be eclipsed by those offered other rising star QB's...the cap will continue to rise...who's to say Flacco's deal isn't a bargain in three years? I look at this deal as a sound business judgement made by a very sound organization.

Bingo. Not to mention that the Ravens have been pretty damn good at drafting too. Albeit, they are mostly a collection of half-wits and criminals, but they sure can play smash-mouth football on Sunday.

 

[fair catch fryar]

Again, I honestly believed that he did take less money overall, but the point still stands that it's all about the guaranteed money in every pact, and by being guaranteed that he'll see every penny over the course of the deal, he also made out pretty well too, so that was really my initial point. It seems that many believe that he should be fit with a halo for doing this, and while they'd have a point that he's seeing less in the final 3 yrs, they'd also be forgetting that he'll be guaranteed to see the entire full 5 yr salary with a pretty nice upfront payment.

I actually think that both sides should be pretty happy, not just the front office, and that's what many here seem to wrongly think.

Anyway, thanks for adding to the debate with facts.

I don't get it. Why is it so hard for some people to think that maybe Brady is actually willing to take a little less so the team can improve and contend for another SB? The guy has made a boatload so far and is married to a supermodel who makes more than him. Brady is smart enough to understand how important his legacy is and will be in NE and winning another SB will elevate him to another level. I also believe that he knows how ingrained he has now become in the psyche of New England sports. The idea is so underestimated and overlooked by so many athletes, fans, and sportswriters alike. As silly as it sounds, it really is the closest thing to "immortality" that a mere person could ever hope to achieve.

 

[patsfan-1982]

im happy for Flacco hope he plays great with he's new contract i also hope the ravens dont have a nuff money to re-sign Reed to the pats can get him lol

 

[supafly]

I don't get it. Why is it so hard for some people to think that maybe Brady is actually willing to take a little less so the team can improve and contend for another SB? The guy has made a boatload so far and is married to a supermodel who makes more than him. Brady is smart enough to understand how important his legacy is and will be in NE and winning another SB will elevate him to another level. I also believe that he knows how ingrained he has now become in the psyche of New England sports. The idea is so underestimated and overlooked by so many athletes, fans, and sportswriters alike. As silly as it sounds, it really is the closest thing to "immortality" that a mere person could ever hope to achieve.

One, he became the first player in NFL (or maybe even sports) history to have a fully guaranteed contract over the entire course, so you have to take that into account. If you are nearing your mid to late 30's and signing a pact that takes you into the age of 40, that is a pretty good deal, especially when you get a nice chunk of upfront money.

Yes, he'll be getting paid less in the final 3 yrs, but since it's always all about the guaranteed money in a contract (Welker will surely tell you, along with any other NFL player), and since he's basically fully guaranteed, he certainly made out alright. That is the point. Like I said, I would expect some other NFL QBs or players to do the same thing eventually, possibly sooner than we imagine. Taking less money to fully guarantee your entire 5 yr contract may be a payoff that some are willing to take, especially if you are heading into your last deal. We may not see it with that amount of money (apparently somewhere in the early 20's) for awhile, since that much money limits the kinds of players who would do that, but I guarantee that we'll see it for other players on a lesser scale.

As for your question--The media, league, and agent circles who are questioning it are waiting to see what happens in a couple/few yrs down the line. He'll need to play out the entire pact before some of them fully believe it, since it's such a rarity and it is completely unheard of.

 

[supafly]

Just a note, because I think this is where you may be getting sidetracked by the reports. Guaranteed money is huge, and it's the most important part of a longterm deal. However, "almost sure to be earned" money is also important, and that's what the reports were ignoring.

In other words, it's not just the guarantees, but also the early salaries and bonuses. What Florio was doing was focusing on the guarantees of the new deal and ignoring the "almost sure to be earned" money of the old deal. He was screwing around trying to dig up controversy, because he's the Michael Felger of PFT.

So, some of those who were questioning it were doing so because they were not taking into account the "almost sure to be earned" money from the last pact, and that is where they (and I) were assuming the 30 million+ came from. I think that is what you're saying. In other words, as mgteich stated, he would have been getting that 30 million anyway from the old deal.

 

[PatsFaninAZ]

If I can briefly interrupt the Brady discussion, the Flacco deal terms are now out and it's really a poential future changer for the Ravens, at the expense of 3 very comfortable years. The entire contract is built so that the Ravens will have a lot of pressure to cut him after 3 years, and they've built the contract so that they can.

Signing bonus is $29m, or 5.8m per year to the cap over the first five years. Plus another two bonuses in years 2 and 3 that add 4.75m to the cap for years 2-6.

2013 1,000,000 salary $5.8m bonus $6.8m cap hit
2014 6,000,000 salary $5.8m bonus, $4.75m bonus $16.55m cap hit
2015 4,000,000 salary $5.8 bonus, $4.75m bonus $14.55m cap hit
2016 18,200,000 salary $5.8 bonus, $4.75m bonus $28.75m cap hit
2017 20,600,000 salary $5.8 bonus, $4.75m bonus $31.15m cap hit
2018 20,000,000 salary $4.75m bonus $24.75m cap hit

I think that's an insane contract. The Ravens have deferred way too much of the cap hit. They are only taking $37.8 million in the first half of a 120.6m deal. That is way too backloaded -- it's essentially a deal that only takes a 31 percent hit over 50 percent of the contract.

While the cap is going to go up, 2016 is basically a sunk year for the Ravens unless Flacco restructures. Maybe he will. But at that point, he'll still be owed $60 million over 3 years, so the restructure will have to be pretty darned good.

To be sure the Ravens will have leverage. They've positioned themselves where they can cut him in 2016. Basically, the dead money for cutting him after 3 years will be a one time 25.85 hit.

I really don't see the cap going up that much that any team can realistically face what the Ravens are facing in three years. I had thought the the deal would be structured to give them more modest cap space for 4 years instead of crippling themselves after 3. It looks as though they really wanted to accomplish 2 things: Make the signing bonus structure palatable enough that cutting him after 3 years would be possible, even if extremely painful, and getting that last year down low enough to be around the expected franchise number, as PFT reported. Why they care so much about that is bizarre. They can't ride out two years of $30 million cap hits in 2016 and 2017, so 2018 will be irrelevant.

 

[TruthSeeker]

"Flacco’s cap number for 2016 will be, according to King, $29 million"

It appears that it will be a few years before the Ravens pay the piper - at which point a restructure will probably be called for. However, they'll have already paid out $62 million (all of which will ultimately need to be accounted for in the cap) and (my guess) only accounted for about $40 million of it (assuming 6 + 14 +20 for the first few years).

 

[jmt57]

I had to laugh when I saw Albert Breer on the NFLN, characterizing the signing as Flacco doing so much more for the team than Brady did in regards to the two contracts, basing his opinion on Flacco's cap number being half of what Brady's will be in 2013.

Why am I not surprised by Breer's spin?

 

[supafly]

If I can briefly interrupt the Brady discussion, the Flacco deal terms are now out and it's really a poential future changer for the Ravens, at the expense of 3 very comfortable years. The entire contract is built so that the Ravens will have a lot of pressure to cut him after 3 years, and they've built the contract so that they can.

Signing bonus is $29m, or 5.8m per year to the cap over the first five years. Plus another two bonuses in years 2 and 3 that add 4.75m to the cap for years 2-6.

2013 1,000,000 salary $5.8m bonus $6.8m cap hit
2014 6,000,000 salary $5.8m bonus, $4.75m bonus $16.55m cap hit
2015 4,000,000 salary $5.8 bonus, $4.75m bonus $14.55m cap hit
2016 18,200,000 salary $5.8 bonus, $4.75m bonus $28.75m cap hit
2017 20,600,000 salary $5.8 bonus, $4.75m bonus $31.15m cap hit
2018 20,000,000 salary $4.75m bonus $24.75m cap hit

I think that's an insane contract. The Ravens have deferred way too much of the cap hit. They are only taking $37.8 million in the first half of a 120.6m deal. That is way too backloaded -- it's essentially a deal that only takes a 31 percent hit over 50 percent of the contract.

While the cap is going to go up, 2016 is basically a sunk year for the Ravens unless Flacco restructures. Maybe he will. But at that point, he'll still be owed $60 million over 3 years, so the restructure will have to be pretty darned good.

To be sure the Ravens will have leverage. They've positioned themselves where they can cut him in 2016. Basically, the dead money for cutting him after 3 years will be a one time 25.85 hit.

I really don't see the cap going up that much that any team can realistically face what the Ravens are facing in three years. I had thought the the deal would be structured to give them more modest cap space for 4 years instead of crippling themselves after 3. It looks as though they really wanted to accomplish 2 things: Make the signing bonus structure palatable enough that cutting him after 3 years would be possible, even if extremely painful, and getting that last year down low enough to be around the expected franchise number, as PFT reported. Why they care so much about that is bizarre. They can't ride out two years of $30 million cap hits in 2016 and 2017, so 2018 will be irrelevant.

That's exactly what I and the Baltimore fan were speaking of, whether or not they would load it in the middle or not.

It would definitely appear that they will restructure/extend after the initial 3 years, thus making it a 3 yr/62 million dollar deal.

At this point it's hard to question the Baltimore front office for me, since they seem to know what they're doing. You may feel differently though. I suppose we'll have to wait until the next 3 yrs to find out.

 

[Huckleberry1]

If I can briefly interrupt the Brady discussion, the Flacco deal terms are now out and it's really a poential future changer for the Ravens, at the expense of 3 very comfortable years. The entire contract is built so that the Ravens will have a lot of pressure to cut him after 3 years, and they've built the contract so that they can.

Signing bonus is $29m, or 5.8m per year to the cap over the first five years. Plus another two bonuses in years 2 and 3 that add 4.75m to the cap for years 2-6.

2013 1,000,000 salary $5.8m bonus $6.8m cap hit
2014 6,000,000 salary $5.8m bonus, $4.75m bonus $16.55m cap hit
2015 4,000,000 salary $5.8 bonus, $4.75m bonus $14.55m cap hit
2016 18,200,000 salary $5.8 bonus, $4.75m bonus $28.75m cap hit
2017 20,600,000 salary $5.8 bonus, $4.75m bonus $31.15m cap hit
2018 20,000,000 salary $4.75m bonus $24.75m cap hit

I think that's an insane contract. The Ravens have deferred way too much of the cap hit. They are only taking $37.8 million in the first half of a 120.6m deal. That is way too backloaded -- it's essentially a deal that only takes a 31 percent hit over 50 percent of the contract.

While the cap is going to go up, 2016 is basically a sunk year for the Ravens unless Flacco restructures. Maybe he will. But at that point, he'll still be owed $60 million over 3 years, so the restructure will have to be pretty darned good.

To be sure the Ravens will have leverage. They've positioned themselves where they can cut him in 2016. Basically, the dead money for cutting him after 3 years will be a one time 25.85 hit.

I really don't see the cap going up that much that any team can realistically face what the Ravens are facing in three years. I had thought the the deal would be structured to give them more modest cap space for 4 years instead of crippling themselves after 3. It looks as though they really wanted to accomplish 2 things: Make the signing bonus structure palatable enough that cutting him after 3 years would be possible, even if extremely painful, and getting that last year down low enough to be around the expected franchise number, as PFT reported. Why they care so much about that is bizarre. They can't ride out two years of $30 million cap hits in 2016 and 2017, so 2018 will be irrelevant.

Great post, as usual.


Do me a small favor AZ and go look at the post I just made in the "You be the GM thread," and tell me if you think it is both feasible and a good approach to the offseason.

 

[PatsFaninAZ]

It would definitely appear that they will restructure/extend after the initial 3 years, thus making it a 3 yr/62 million dollar deal.

Why so sure? It's much harder to restructure a guy who is due 3/60 than a guy on his last year or second to last year owed $20 or $30 million. Compare it to the Brees' deal -- like Flacco, Brees gets his $60 million over 3 years, but then only has 2/38 left on the deal. People think that's going to be a very hard restructure, and Brees is way more cut friendly than Flacco ($15 million).

What kind of restructure are you going to do with a guy in the prime of his career with a contract to make $60 million more who already has over $21 million in amortized bonuses go against any cap. With that much in un-cap credited bonuses, how do you get him any salary at all? You can't give him another big signing bonus either. Do you think Flacco is going to take a restructure after making $20 million a year for 3 years where he says, "fine, don't pay me a signing bonus and I'll play 2016 at low salary for the team that already has me under contract for another $60 million"? Doubtful.

Will $62 million be enough for Flacco to pull a Brady? Who knows? Not if he's playing well, and still has lots of years left. At this point, I would predict a cut more than a restructure. But, that's 3 years in the future and anything can happen.

The Ravens did more than just put the high cap in the "middle" and the "end" -- they completely backloaded, just with a bit less of hit in the last year that will never happen. $38 million of a $120.6 million hit over 3 years is just too little. Look at the Brees deal. That's a disaster of a deal, but it leas the Saints took some of their medicine early.

 

[NgataTroublemaker]

If I can briefly interrupt the Brady discussion, the Flacco deal terms are now out and it's really a poential future changer for the Ravens, at the expense of 3 very comfortable years. The entire contract is built so that the Ravens will have a lot of pressure to cut him after 3 years, and they've built the contract so that they can.

Signing bonus is $29m, or 5.8m per year to the cap over the first five years. Plus another two bonuses in years 2 and 3 that add 4.75m to the cap for years 2-6.

2013 1,000,000 salary $5.8m bonus $6.8m cap hit
2014 6,000,000 salary $5.8m bonus, $4.75m bonus $16.55m cap hit
2015 4,000,000 salary $5.8 bonus, $4.75m bonus $14.55m cap hit
2016 18,200,000 salary $5.8 bonus, $4.75m bonus $28.75m cap hit
2017 20,600,000 salary $5.8 bonus, $4.75m bonus $31.15m cap hit
2018 20,000,000 salary $4.75m bonus $24.75m cap hit

I think that's an insane contract. The Ravens have deferred way too much of the cap hit. They are only taking $37.8 million in the first half of a 120.6m deal. That is way too backloaded -- it's essentially a deal that only takes a 31 percent hit over 50 percent of the contract.

While the cap is going to go up, 2016 is basically a sunk year for the Ravens unless Flacco restructures. Maybe he will. But at that point, he'll still be owed $60 million over 3 years, so the restructure will have to be pretty darned good.

To be sure the Ravens will have leverage. They've positioned themselves where they can cut him in 2016. Basically, the dead money for cutting him after 3 years will be a one time 25.85 hit.

I really don't see the cap going up that much that any team can realistically face what the Ravens are facing in three years. I had thought the the deal would be structured to give them more modest cap space for 4 years instead of crippling themselves after 3. It looks as though they really wanted to accomplish 2 things: Make the signing bonus structure palatable enough that cutting him after 3 years would be possible, even if extremely painful, and getting that last year down low enough to be around the expected franchise number, as PFT reported. Why they care so much about that is bizarre. They can't ride out two years of $30 million cap hits in 2016 and 2017, so 2018 will be irrelevant.

Some things to keep in mind are:

Suggs' cap hits:

2013 - $13M
2014 - $12.4M
2015 - FA (age 33 for 2015 season)

Ngata's cap hits:

2013 - $11.5M
2014 - $16M
2015 - $16M
2016 - FA (age 32 for 2016 season)

Rice's cap hits:

2013 - $5.75M
2014 - $8.75M
2015 - $7.75M
2016 - $7.75M
2017 - FA (age 30 for 2017 season)

All of these guys will be signed for a lot less, if signed at all after their current contracts expire, imo. Rice will be youngish, but RB is position of dimishing value, and Pierce looks pretty good as well.

I agree that Flacco will likely be extended and restructured after 3 years, but there are also going to be some chunks of money coming off the books all around that time. Either way, it appears the Ravens organization thinks it is going to be transitioning away from a defensive team to an offensive team. Whether Flacco is up to the task remains to be seen, and I have as much doubt as any other reasonable person about that.

 

[PatsFaninAZ]

Some things to keep in mind are:

Suggs' cap hits:

2013 - $13M
2014 - $12.4M
2015 - FA (age 33 for 2015 season)

Ngata's cap hits:

2013 - $11.5M
2014 - $16M
2015 - $16M
2016 - FA (age 32 for 2016 season)

Rice's cap hits:

2013 - $5.75M
2014 - $8.75M
2015 - $7.75M
2016 - $7.75M
2017 - FA (age 30 for 2017 season)

All of these guys will be signed for a lot less, if signed at all after their current contracts expire, imo. Rice will be youngish, but RB is position of dimishing value, and Pierce looks pretty good as well.

I agree that Flacco will likely be extended and restructured after 3 years, but there are also going to be some chunks of money coming off the books all around that time. Either way, it appears the Ravens organization thinks it is going to be transitioning away from a defensive team to an offensive team. Whether Flacco is up to the task remains to be seen, and I have as much doubt as any other reasonable person about that.

Good stuff again -- if the Ravens are going to be in position to take a 29m hit in 2016, more power to them. I will genuflect to their FO.

I think the key to the deal is that they did manage to make it possible to cut him, despite some pain. If he stinks, they just pull a 2012 Colts in 2016 and draft themselves a new guy with a high draft pick, and in the mean time get it all off their books in one year after 3 years where they enjoyed a pretty favorable cap. It's a gamble.

 

[BradyFTW!]

Some things to keep in mind are:

Suggs' cap hits:

2013 - $13M
2014 - $12.4M
2015 - FA (age 33 for 2015 season)

Ngata's cap hits:

2013 - $11.5M
2014 - $16M
2015 - $16M
2016 - FA (age 32 for 2016 season)

Rice's cap hits:

2013 - $5.75M
2014 - $8.75M
2015 - $7.75M
2016 - $7.75M
2017 - FA (age 30 for 2017 season)

All of these guys will be signed for a lot less, if signed at all after their current contracts expire, imo. Rice will be youngish, but RB is position of dimishing value, and Pierce looks pretty good as well.

I agree that Flacco will likely be extended and restructured after 3 years, but there are also going to be some chunks of money coming off the books all around that time. Either way, it appears the Ravens organization thinks it is going to be transitioning away from a defensive team to an offensive team. Whether Flacco is up to the task remains to be seen, and I have as much doubt as any other reasonable person about that.

Definitely on the right board, if that's the direction that this discussion is taking. I agree that that has to (and should) be the takeaway from this; it's consistent with how the Ravens are spending and with where their most talented young(or at least youngish) players play. As Pats fans, we've seen that evolution happen first-hand, and while it's been painful at times, it's the right call to make if you think you have the QB who can handle it. Personally, after what I saw from Flacco over this postseason, I think that's a fair assessment to make of him, even if I do think that this particular contract may have overvalued him.

FWIW, I'd maybe even argue that the Ravens are already an offensive team. They averaged 33 PPG over their last 3 games, and they surrendered 30+ points in half of their playoff games (and won them anyway). That sounds like an offensive team to me.

If Flacco is truly elite, then another benefit is that he may be able to keep the Ravens in annual Super Bowl contention, even as the team restocks itself defensively. Say, for example, that Reed and Kruger both leave, and that Ngata's injuries are the start of a steady decline rather than an aberration. The Ravens will still have some top-line talent out there (Suggs and Webb), but building the defense back up to the point that Reed, Lewis, and Ngata are all replaced won't happen overnight. A good QB can overcome a lot of that, though, as we've seen with Brady from 2009 until now. He's kept the Pats in the hunt every year, to the point that we now, finally, have a defense that's probably 2 guys away from being a genuine strength.

 

[juny]

The way I read the numbers is that they are committed to Flacco 5 years at a minimum. I dont see a reason for Flacco to restructure personally unless his salary is eating up too much cap space (who knows what the cap is by 2016) to surround him with enough talent. They better hope that he is the real deal. It all really depends on how much the cap increases once the new tv contract kicks in.

 

[josh24]

I can't believe the Ravens are giving this amount of money to Flacco.
Just another overreaction from a team after a good season, as we constantly see in sports.

 

[Belichick8384]

I smell disaster for the Ravens. I may not know who's who when it comes to management of a team, but even I can see Baltimore has some management issues. Although, on the other hand, maybe with Ray Lewis leaving, they have more options with their money...