Ravens QB Joe Flacco to sign NFL’s richest contract

Joe Flacco and the Baltimore Ravens reached a tentative agreement Friday on a new contract that would make the Super Bowl MVP the highest-paid player in NFL history.

If the deal is finalized, the veteran quarterback would receive in excess of $120 million over six years, according to a person close to the negotiations.

Flacco would earn more than the $20 million average salary that the Saints’ Drew Brees receives.

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Flacco, 28, played out his rookie contract last season for $6.76 million and led Baltimore to the NFL championship. Ravens general manager Ozzie Newsome said the sides have settled on the parameters of the deal, but still have some language and details to work out.

By reaching agreement before Monday’s 4 p.m. franchise deadline means the Ravens don’t have to take a salary-cap hit of approximately $19.5 million.

QBs top franchise tag list

The NFL set its franchise tag values — topped by quarterbacks ($14.896 million) — some very important numbers for teams with free agency beginning March 12.

The Bengals gave defensive end Michael Johnson the franchise tag, meaning he will be paid $11.175 million this season if he doesn’t reach a long-term contract with the team. Johnson had 11½ sacks last season, his fourth in the NFL, and is considered a key part of a defense that ranked sixth overall. The Bears placed a franchise tag worth $8.45 million on Pro Bowl defensive tackle Henry Melton. Chicago GM Phil Emery said the team is using the franchise tag ‘‘so [Melton’s] development continues as a Bear.’’

The Colts gave punter Pat McAfee the franchise tag worth $2.977 million this season, while the Broncos tagged left tackle Ryan Clady, ensuring the three-time Pro Bowler a salary of $9.828 million in 2013 — almost triple what Clady made last season when he allowed just one sack in more than 1,100 snaps. The Bills also placed a franchise tag on safety Jairus Byrd worth $6.9 million.

The other tags for franchise players are $10.854 million for cornerbacks; $10.537 million for wide receivers; $9.619 million for linebackers; $8.45 million for defensive tackles; $8.219 million for running backs; and $6.066 million for tight ends.

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