Ravens QB Flacco signs NFL's richest contract

In this handout photo provided by Disney Parks, Super Bowl XLVII MVP Joe Flacco rides with Mickey Mouse in a parade through the Magic Kingdom at Walt Disney World Resort February 4, 2013 in Lake Buena Vista, Florida. Flacco led his Baltimore Ravens to a 34-31 win over the San Francisco 49ers last night in New Orleans. After the game, Flacco starred in a commercial where he proclaimed "I'm Going to Disney World!" (February 3, 2013 - Source: Handout/Getty Images North America) ( Handout/Getty Images North America)
In this handout photo provided by Disney Parks, Super Bowl XLVII MVP Joe Flacco rides with Mickey Mouse in a parade through the Magic Kingdom at Walt Disney World Resort February 4, 2013 in Lake Buena Vista, Florida. Flacco led his Baltimore Ravens to a 34-31 win over the San Francisco 49ers last night in New Orleans. After the game, Flacco starred in a commercial where he proclaimed "I'm Going to Disney World!" (February 3, 2013 - Source: Handout/Getty Images North America) ( Handout/Getty Images North America)
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Updated: 3/04 4:33 pm
OWINGS MILLS, Md. (AP) - Baltimore Ravens quarterback Joe Flacco has signed a new contract worth $120.6 million over six years, making him the highest paid player in NFL history.

The Super Bowl MVP finalized the deal Monday. Flacco will receive a $29 million signing bonus and $52 million in guaranteed money.

Flacco says, "It's not really about the money, it's about that respect."

The 28-year-old Flacco threw 11 touchdown passes and no interceptions during the postseason and led the Ravens to a Super Bowl win over San Francisco.

That probably helped him in negotiations, but Flacco says, "I think I'm an asset to this team. ... The fact that we won the Super Bowl just comes with that. If we didn't win the Super Bowl this year, I still think I'm worth the same."

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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