The Indianapolis Colts recently benched former No. 4 overall pick Anthony Richardson after just 10 games, replacing him with 39-year-old Joe Flacco.
The veteran quarterback signed with the Colts last offseason after leading the Cleveland Browns to the playoffs and winning the NFL‘s 2023 Comeback Player of the Year award. Let’s examine Flacco’s contract with the Colts, including his 2024 salary, incentives, and more.
Breaking Down Joe Flacco’s Deal
Flacco is turning back the clock and proving he still has plenty left in the tank in his 17th NFL season. Across four games (including two starts), he’s thrown for 716 yards, seven touchdowns, and one interception with a 65.7% completion percentage.
Flacco is one of the biggest bargains in the league. Last offseason, he signed a one-year deal worth $4.5 million with Indianapolis. His base salary is $3 million, and he received a $1.5 million signing bonus and $500,000 in likely incentives.
That means Flacco’s cap hit is just $5 million this season. For context, backups like Dallas Cowboys QB Trey Lance ($5.3 million), Washington Commanders QB Marcus Mariota ($6 million), Denver Broncos QB Jarrett Stidham ($7 million), and New England Patriots QB Jacoby Brissett ($7.8 million) all have higher cap hits.
Flacco’s contract was recently made public, and it includes a number of incentives such as $100,000 for each regular-season win in which he plays at least 50% of the snaps and $250,000 for each playoff win in which he plays at least 50% of snaps.
Joe Flacco's one-year contract with the #Colts includes $3.7 million in incentives. That includes $100,000 for each regular-season win in which he plays 50% of the snaps. (He's also prohibited from mountain climbing and karate.) pic.twitter.com/UdSvb6eUZR
— Tom Pelissero (@TomPelissero) November 3, 2024
Additionally, Flacco has incentives tied to the percentage of snaps he plays throughout the entire season:
- 30% of snaps: $250,000
- 40% of snaps: $500,000
- 50% of snaps: $750,000
- 60% of snaps: $1 million
Colts head coach Shane Steichen recently said that Flacco will be the team’s starting quarterback going forward, so he has a chance to make some significant money from his bonuses. The maximum amount that Flacco can earn in incentives is $3.7 million.
The contract also states that he’s prohibited from skydiving, hang gliding, mountain climbing, auto racing, motorcycling, scuba diving, skiing (water or snow), martial arts, boxing, and wrestling.
Flacco has done well for himself since entering the NFL as the No. 18 overall pick in the 2008 NFL Draft, with $180,175,063 in career earnings.
Over the course of his 17-year NFL career, Flacco has thrown for 44,652 yards, 252 touchdowns, and 156 interceptions in the regular season. In the playoffs, he has totaled 3,530 yards, 26 touchdowns, and 12 interceptions.
In 2013, Flacco led the Baltimore Ravens to victory in Super Bowl 47 and earned Super Bowl MVP honors. That postseason, his 11 touchdowns tied the NFL record for most passing TDs in a single postseason (with Joe Montana, Kurt Warner, and Patrick Mahomes).