Baltimore Ravens quarterback Joe Flacco signed a new contract Monday worth $120.6 million over six years, making him the highest-paid player in NFL history.
The Super Bowl MVP will receive a $29 million signing bonus and $52 million in guaranteed money. He will be paid $51 million over the first two years of the deal.
"It's not really about the money, it's about that respect," Flacco said minutes after signing.
Flacco, 28, is the first starting quarterback in NFL history to make the playoffs in each of his first five seasons. He's led the Ravens to nine wins over that span, tying Tom Brady for most among quarterbacks in the first five years of a career.
Flacco threw 11 touchdown passes and no interceptions during the recent postseason and led the Ravens to a 34-31 Super Bowl win against San Francisco.
"He's a significant reason we've been to the playoffs five years in a row, played in three AFC championship games, and now, we are Super Bowl champs with Joe as MVP," Ravens general manager Ozzie Newsome said.
CHIEFS: Kansas City retained three significant free agents, signing punter Dustin Colquitt to a five-year deal, placing the franchise tag on left tackle Branden Albert and agreeing to a five-year contract with wide receiver Dwayne Bowe.
COLTS: Jeff Saturday will retire from the NFL with Indianapolis.
There had been speculation from the moment Saturday said 2012 would be his final season in the league that the Colts would bring back their longtime center so he could retire with the team that brought him into the league. Team officials say Saturday will make the announcement Thursday at the Colts complex.
Saturday spent his first 13 seasons with the Colts before signing with Green Bay as a free agent last year.
COWBOYS: Dallas is putting the franchise tag on Anthony Spencer for the second straight year.
The franchise tag for Spencer comes with the Cowboys switching from the 3-4 defense to the 4-3, which likely will mean a move to defensive end for Spencer after six years at outside linebacker.
Dallas also released safety Gerald Sensabaugh, cornerback Vince Agnew and linebacker Brashton Satele.
DOLPHINS: Miami designated defensive tackle Randy Starks as its franchise player.
JETS: Darrelle Revis is moving closer to getting back on the football field.
Whether that's with the New York Jets next season remains to be seen.
Jets general manager John Idzik said during a conference call with season ticket holders Monday that there is encouraging news from doctors on Revis' rehabilitation from a torn ligament in his left knee.
"By all accounts, by his doctor's accounts, he's doing very well," Idzik said. "By their estimation, he's ahead of schedule."
But Idzik wouldn't address the cornerback's murky contract situation.
Revis is entering the final year of his contract.
PATRIOTS: New England released fullback Spencer Larsen and offensive lineman Kyle Hix.
STEELERS: Veteran cornerback William Gay is heading back to Pittsburgh after agreeing to a three-year deal.
Gay spent his first five seasons with the Steelers before signing with Arizona last spring.