Joe Flacco is staying in Baltimore.
The Super Bowl MVP quarterback agreed Friday to a new contact with the Ravens, two people with knowledge of the deal told The Associated Press.
Terms were not immediately available, but Flacco was expected to get a long-term contract close to the $20 million average salary Drew Brees earns with New Orleans.
The people spoke on condition of anonymity because the agreement has not officially been announced.
Fox Sports first reported the new deal.
Flacco played out his rookie contract last season for $6.76 million and led Baltimore to the NFL championship.
The 28-year-old Flacco is the only quarterback to win a postseason game in each of his first five pro seasons. He had a spectacular playoffs and Super Bowl this year, throwing for 11 touchdowns with no interceptions.
He also holds the record for playoff road wins with six.
Before the Super Bowl, Ravens owner Steve Bisciotti expressed confidence that Flacco would be the Ravens' quarterback of the future.
"We've never lost a great, great franchise player from the beginning," Bisciotti said. "I'm just very comfortable that it will get done."
On Friday, it did.
Flacco was a first-round draft pick in 2008 out of Delaware and one of the most consistent postseason winners in NFL history.
Flacco said after the Super Bowl victory over San Francisco that he expected to be back in Baltimore. He made sure of that Friday, coincidentally hours after the franchise tag figures for 2013 became known.
Had Flacco been franchised, he would have earned at least $14.896 million this season.