Super Bowl most valuable player Joe Flacco has agreed to terms on a new contract with the Baltimore Ravens, the Baltimore Sun reported.
The star quarterback and the Ravens are expected to finalize the deal on Monday, the newspaper said.
Nothing is official and no terms of the contract were released but some American media reported that it could make Flacco the highest paid quarterback in NFL history.
The 28-year-old Flacco, who has led the Ravens to the playoffs every season during his five years with the club, threw three first-half touchdowns as Baltimore beat the San Francisco 49ers 34-31 in the NFL championship game last month.
Flacco finished the post-season with 11 touchdowns and was named MVP of the Super Bowl.
Baltimore has until Monday to sign Flacco to a new contract, designate him as a "franchise" player or allow him to test the free agent market.
The Ravens made Flacco the 18th overall pick in the 2008 entry draft.
Joe Flacco of the Baltimore Ravens looks to pass in the first quarter against the San Francisco 49ers during Super Bowl XLVII on February 3, 2013 in New Orleans. Super Bowl MVP Flacco has agreed to terms on a new contract with the Baltimore Ravens, the Baltimore Sun reported Chris Graythen/Getty Images/AFP