Flacco is due to make $52 million in guaranteed money, according to NFL.com, but his cap hit early in the deal ($6.8 million in 2013) should provide Baltimore with increased flexibility.
Flacco was asked whether it was his intention to help the team structure the deal in order to help with the cap.
"I don't know too much about the details. I know it's going to be less on the cap than an exclusive or non-exclusive franchise (tag) would be," he said. "I know we have a lot of good players on the team, and I love to play with those guys so hopefully it works out very good for the organization and we can keep as many people as we need. That's all I really know."
But was it important to him to be able to provide the team with the ability to have some staying power?
"Obviously, when you're the quarterback you aim to make a certain amount of money, really just based on what the value is for quarterbacks these days," Flacco said. "I don't think that was ever an issue. Once we got to the point where it was structured somewhat here, somewhat there, you're happy with it. It's not really about the money, it's about that respect. When you get to a point where you're happy with it, then it's all about saying, 'All right, I'm good. Now let's take care of the rest of the guys.' Getting it done by this date would obviously, I would hope, help us out on the football field."
Flacco also acknowledged that he has increased confidence that the Ravens won't need to cut top wideout Anquan Boldin because of the way the new contract is built.
"I don't really know too too much about it and that's for Ozzie (Newsome) and all those guys to decide," Flacco said. "But I'll tell you what, Anquan was a beast in those four games and it was awesome to have him out there. You guys saw some of the catches that he made, none more important than the third down against San Francisco.
"So he's been a big part of this offense, he's a big part of why I'm standing here today talking to you guys. So yeah it definitely increases my confidence that we'll have him back and I hope we do."