Baltimore Ravens quarterback Joe Flacco signed his new contract Monday, a reported six-year, $120.6 million deal that will make him the highest-paid player in NFL history.

The Super Bowl XLVII MVP inked the pact, which includes a reported $52 million guaranteed, then addressed the media at the Under Armour Performance Center.

"Nothing immediately," Flacco said when asked what he would do with the money. "Just going to look at it and be able to smile a little easier. It's not really about the money, it's about the respect."

Flacco's rookie contract expired following the Ravens' epic postseason run, in which the 28-year-old University of Delaware product threw 11 touchdown passes and zero interceptions as he guided Baltimore to its second Super Bowl title in franchise history.

The Ravens had until Monday to either sign Flacco to a new deal or apply the franchise tag.

"Getting it done by this date helps us out," Flacco remarked. "That was a little bit of an importance in my mind."

Flacco has been one of the more durable quarterbacks in the league since Baltimore selected him with the 18th overall pick in the 2008 draft.

The 6-foot-6 New Jersey native has started all 80 regular-season games over the past five seasons, racking up 17,633 yards and 102 touchdowns to go with 56 interceptions.

Flacco has led the Ravens to the postseason every season during his five-year tenure and is 9-4 overall in the playoffs.