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March 4 (The Sports Xchange) - A number of teams were busy placing franchise tags on selected players on Monday, but Baltimore Ravens quarterback Joe Flacco and his huge contract continued to dominate the news.
The Ravens announced that they officially signed Flacco to a six-year contract.
NFL.com reported Sunday that the deal is worth $120.6 million, the richest in NFL history.
"It wasn't necessarily about the money," Flacco said at his news conference announcing the signing.
"It was, at that point, about earning that respect and feeling like I was respected around here. The fact that they have made me that definitely makes me feel good about how I played and how they feel about me."
The contract reportedly includes $52 million in guaranteed money and Flacco will receive a $29 million signing bonus.
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Eight players were designated non-exclusive franchise players before Monday's deadline, but all are permitted to field offers from other suitors in free agency.
The eight players who were tagged were Buffalo Bills safety Jairus Byrd, Chicago Bears defensive tackle Henry Melton, Cincinnati Bengals defensive end Michael Johnson, Dallas Cowboys linebacker Anthony Spencer, Denver Broncos offensive tackle Ryan Clady, Indianapolis Colts punter Pat McAfee, Kansas City Chiefs offensive tackle Branden Albert, and Miami Dolphins defensive tackle Randy Starks.
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The Chiefs signed wide receiver Dwayne Bowe to a five-year deal, and they reportedly agreed to a five-year, $18.75 million contract with punter Dustin Colquitt.
They are set to acquire quarterback Alex Smith from the San Francisco 49ers on March 12, the first day trades can be official and the start of the 2013 "league year."
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Green Bay wide receiver Greg Jennings did not receive a one-year franchise tender from the Packers, which likely frees Jennings to become an unrestricted free agent on March 12.
Jennings caught just 36 passes last season when he missed eight games with a groin injury that required surgery.
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Tennessee Titans tight end/wide receiver Jared Cook and his agent planned to file a grievance to allow an arbitration panel to determine whether his claim to be paid the one-year franchise tender as a wide receiver instead of a tight end. That threat is moot now that the Titans decided not to use the tag on Cook.
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New York Jets officials said in a conference call with season-ticket holders that cornerback Darrelle Revis is ahead of schedule in recovering from knee surgery.
Revis is due $6 million and is seeking a new deal that will pay him about $16 million, according to ESPN.com. The team cannot place a franchise tag on him because of a clause in his contract.
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The Pittsburgh Steelers announced Monday that they signed veteran cornerback William Gay.
Gay returns to the Steelers after spending last year with the Arizona Cardinals. He had eight passes defensed, two interceptions three forced fumbles and one fumble recovery in 16 games (15 starts). (Editing by Julian Linden)