Ravens, Joe Flacco agree to 3-year extension

Joe Flacco got the deal he has been waiting for on Wednesday.

The Baltimore Ravens announced that the franchise quarterback has been tied to a three-year contract extension that will keep him with the team through the 2021 season.

Ravens officials were expected to sit down with Flacco's agent at last week's NFL Combine to discuss restructuring the six-year, $120 million deal the veteran signed in 2013 that was set to run through 2018.

Flacco's cap hit for 2016 was set to jump to $28.55 million, third-highest among NFL quarterbacks, and the Ravens need the extra money to acquire free agents. Reports surfaced last week that an extension could reduce Flacco's salary cap number by as much as $9 million.

Flacco's season was cut short for the first time in his eight-year NFL career when he suffered a torn ACL and MCL against the St Louis Rams in November. The 31-year-old had completed 64.4 per cent of his passes - a career high - for 2,791 yards, 14 touchdowns and 12 interceptions in 10 games before being sidelined.

The Ravens were derailed by injuries in 2015, reaching a record number of 20 players being placed on injured reserve after losing wide receiver Steve Smith, linebacker Terrell Suggs and running back Justin Forsett to devastating injuries. Baltimore finished 5-11, going 2-4 in Flacco's absence.