Baltimore Ravens, QB Joe Flacco agree to three-year extension

Quarterback Joe Flacco signed a three-year contract extension with the Baltimore Ravens on Tuesday.

Flacco was scheduled to enter the 2016 season with the NFL's second-highest cap figure at $28.6 million -- and a base salary of $18 million -- as part of the contract he signed in March 2013 on the heels of the Ravens' Super Bowl XLVII victory.

Flacco is recovering from a torn ACL in November 2015 but general manager Ozzie Newsome said last week at the NFL Scouting Combine the Ravens expect him to be ready to go for the start of training camp. The Ravens enter the offseason with two quarterbacks, Flacco and Ryan Mallett, under contract.

Including Tuesday's extension, the Ravens are tied to Flacco through 2021.

Flacco's original deal was a six-year, $120.6 million pact with $29 million as a signing bonus and $29 million guaranteed. That deal would have expired after the 2018 season, sending Flacco into free agency at age 34. He's now signed through age 36.