Joe Flacco contract details: Veteran QB set to join Colts on one-year deal

Joe Flacco’s renaissance continues.

Flacco was one of the stories of the 2023 NFL season, as he came off the couch to lead the Browns to the playoffs en route to earning Comeback Player of the Year honors.

For his efforts, the 39-year-old was rewarded a one-year deal with the Colts, per NFL Network’s Ian Rapoport, Tom Pelissero and Mike Garafolo.

As one of the league’s elder statesmen, Flacco has made plenty of money over his career. This contract might be sweeter than them all, though. After all, his career seemed all but finished just two seasons ago.

Here’s everything you need to know as Flacco prepares for his 17th season in the NFL.

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Joe Flacco contract details

The terms of Flacco’s contract with the Colts, reported by ESPN’s Adam Schefter, are as follows:

  • Team: Indianapolis Colts
  • Years: One
  • Value: $8.7 million

Flacco’s one-year deal comes with $4.5 million guaranteed, a large sum for a soon-to-be 40-year-old who has straddled the line between starter and backup over the past few seasons.

But 2023 was quite the year for Flacco, who started the campaign unsigned and ended it leading Cleveland into the postseason. After replacing an injured Deshaun Watson for the final five games of the season, Flacco completed 123-of-204 passes (60.3%) for 1,616 yards and 13 touchdowns to eight interceptions.

Flacco’s comeback tour was highlighted by standout showings against the Jaguars (311 yards, three touchdowns), the Texans (368 yards, three touchdowns) and the Jets (309 yards, three touchdowns). And though it ended in heartbreak — the Texans mauled Flacco and the Browns in the postseason — it proved the old adage that age is nothing but a number.

At present, it seems that Flacco will be second-in-command to hotshot young QB Anthony Richardson. But given his successes past and present, it’s very possible that he could take the reins at some point in the upcoming season for head coach Shane Steichen’s side.

Who is the highest-paid backup QB in the NFL?

With an AAV of $8.7 million, Flacco’s new contract would have made him the highest-paid backup quarterback in the 2023 season. 

His latest deal surpasses the 2023 contracts of Jacoby Brissett and Mitchell Trubisky, who made $8 million apiece in 2023 for the Commanders and Steelers, respectively. (Brissett started three games for Washington, while Trubisky started five games for Pittsburgh.)

Flacco’s contract also exceeds that of Cowboys backup Trey Lance, whose rookie deal sees him make $8.52 million in AAV.

Joe Flacco career earnings

Flacco has earned more than $175 million over the course of his career, per Spotrac. With his new contract, he will displace Von Miller as the sixth highest-earning player in league history.

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