“It wasn’t necessarily about the money. It was, at that point, about earning that respect and feeling like I was respected around here,” Flacco said Monday just minutes after signing the contract that includes $52 million in guaranteed money.

“The fact that they have made me that definitely makes me feel good about how I played and how they feel about me.”

Flacco led the Ravens to a 34-31 victory over the San Francisco 49ers in the Super Bowl, earning MVP honors by throwing for 287 yards and three touchdowns.

The Ravens and Flacco’s agent had been in talks for more than a year, but the agreement was reached Friday, just three days before Baltimore was set to use the franchise tag to keep him from being an unrestricted free agent.

“Joe’s a Raven in his style of play, the way he works and prepares, and the way he lives his life. He’s a significant reason we’ve been to the playoffs five years in a row, played in three AFC championship games, and now, we are the Super Bowl champs with Joe as MVP,” general manager Ozzie Newsome said in the statement announcing the extension.

Flacco said he learned about the deal while at his uncle’s house for family pizza night. He doesn’t have any big plans for the money.

“I’m not going to do anything crazy,” Flacco said. “All the celebration I can take is going out and enjoying a nice little time with the people that are close to me and looking at each other saying, ‘Man, can you believe where we are?'”

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The Baltimore Sun reported talks went fine between Flacco’s agent, Joe Litna, and Ravens vice president of football administration Pat Moriarty. Talks are expected to continue as both sides try to hammer out a deal before the March 4 deadline that teams have to use their franchise tag. If no deal is reached, Flacco is expected to be tagged.

Earlier this month, Ravens general manager Ozzie Newsome said he is optimistic that the team will get a long-term deal done with the quarterback. Flacco is not under contract for the coming season. The franchise tag, which would take the 28-year-old Flacco off the free-agent market, would take $20 million of cap space this season.

Newsome said Feb. 7 that the sides were close to a deal before the season began, but it was a mutual agreement to stop negotiations until the end of the season.

Flacco, who made less than $7 million last season, is expected to become one of the NFL’s highest-paid quarterbacks. Drew Brees, at an average of $20 million per season, and Peyton Manning, who made $18 million last season, currently top the pay scale for quarterbacks.

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The Ravens and Flacco’s agent, Joe Linta, had been trading telephone calls in recent days to try to schedule the face-to-face negotiating session. Both sides will try to hammer out a deal before the March 4 deadline that teams have to use their franchise tag. If no deal is reached, Flacco is expected to be tagged.

Earlier this month, Ravens general manager Ozzie Newsome said he is optimistic that the team will get a long-term deal done with the quarterback. Flacco is not under contract for the coming season. The franchise tag, which would take the 28-year-old Flacco off the free-agent market, would take $20 million of cap space this season.

Newsome said Feb. 7 that the sides were close to a deal before the season began, but it was a mutual agreement to stop negotiations until the end of the season.

Flacco, who made less than $7 million last season, is expected to become one of the NFL’s highest-paid quarterbacks. Drew Brees, at an average of $20 million per season, and Peyton Manning, who made $18 million last season, currently top the pay scale for quarterbacks.

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The Super Bowl Most Valuable Player is not under contract for next season. Newsome said the sides were “very close” to a deal before the season began, but it was a mutual agreement to stop negotiations until the end of the season.

“I’m coming away today thinking that we can get a deal done,” Newsome said at the “State of the Ravens” season-ending news conference. “We’ve got deals done with Haloti [Ngata], JO [Jonathan Ogden], Ray [Lewis], Ray Rice, Ed Reed, [Terrell] Suggs. I’ve got a very good owner who understands the business and understands the importance of certain positions. So, I’m optimistic.”

If the Ravens can’t get a deal completed before the start of free agency, the team will put the franchise tag on Flacco. The exclusive tag, which would take Flacco off the free-agent market, would take $20 million of cap space this season.

“We’re looking to get a fair deal done with Joe,” Newsome said. “If we’re able to get a deal done, it will allow us to be able to participate more in the market if we so choose. But we understand what the priority is.”
Flacco’s agent, Joe Linta, was asked in an interview with CNBC on Tuesday whether Flacco should be the highest-paid at his position, to which he simply responded, “Yes.”

Flacco, 28, is younger than Peyton Manning (who’s earning $18 million per year) and Drew Brees ($20 million), and now has as many Super Bowl titles as each of them. Linta said those are the numbers that matter.

“When you do a contract of this magnitude, you look at what is the player’s body of work presently,” Linta told CNBC. “And what are the expectations going forward over the next four, five or six years.

“Joe wins on both accounts.”

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