He can now become a free agent and while the team's leadership has been clear that the quarterback won't be going anywhere, Flacco's opinion counts in this matter as well.
On Sunday night, he joked about how negotiations would unfold.
"We just won a Super Bowl," he said. "That's the last thing I'm concerned about, but (owner Steve Bisciotti) did let me know that if the day came, I could go beat on his desk and really put it to him. So that's exactly what I'm going to do."
This morning, Flacco said he has had some productive talks with Bisciotti over the last few months and is confident a long-term deal will be reached.
"I'm pretty optimistic, but who knows? There's all kinds of crazy things that can happen with these contracts. We've all seen it before," Flacco said. "But this is a great organization, I love being here, it's a great city, so I don't really anticipate any problems."
Flacco also spoke a bit about his night after winning the Super Bowl, and when he stood on the podium to accept the keys to his new 2014 Corvette Stingray, the award for the MVP, he was only coming off 1 1/2 hours of sleep.
"I'm pretty tired right now and, no, it hasn't sunk in. It's just a surreal moment," Flacco said. "Hopefully, in about a week, we can kind of wind down and start to enjoy it a little bit."
What'd he think of the party?
"I think everybody was just having an awesome time," Flacco said. "I went and spent some time with the family and then we went to our postgame party. I got to meet Jay-Z, I got to meet Beyonce and that was pretty cool. I don't think that would've happened if we would have lost the game.
"Then just laying in bed, I was exhausted and I couldn't wait to put my head down on that pillow and for some reason, when I was laying there, I couldn't quite fall asleep. I just kind of had my eyes open and was just in disbelief a little bit."
So was Flacco surprised to be named MVP?
"I don't know if I was shocked," he said, drawing laughter. "It was just one of those things where they kind of come up and tell you pretty quickly. I was shocked that I got a car."
Flacco was confident that this could happen, even when the Ravens were sliding at the end of the regular season, losing four of their last five.
"No doubt about it. I don't think that we ever lost faith that this was where we were going to be," he said. "This has been a long journey and I don't think it would be quite as enjoyable if we hadn't gone through all the stuff that we've been through the last couple years, this year. So I think we kept the faith all along and this is where we envisioned ourselves, and I think that's why we're here."
Flacco put together a tremendous playoff run where he matched an NFL record with 11 postseason touchdown passes while throwing no interceptions.
And he gave the credit to his protection detail.
"Our offensive line played very well since I've been here, but the last four games they were just unbelievable," Flacco said. "They're the reason that I'm standing here today and we are Super Bowl champs. They played unbelievable and everybody else kind of rallied around them."
Flacco also revealed that his wife is pregnant with the couple's second child. Coincidentally, he was able to reveal that he was having his first kid after last year's Thanksgiving win over the 49ers.
So Flacco wasn't too sure he wanted to keep playing, and beating, San Francisco.