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CONTRACT AND CAP SPACE: Now that the media sensationalism has died down and the numbers are out, we can review the contract and its impact on the Ravens. Remember, you heard 6 years/120.6 million and the "highest paid player" in the NFL. All of which means nothing.

 The six years and 120.6 is only for the cap numbers and the agent's resume. This contract does not become those numbers over the course of its existence. And the "highest paid player" is only on paper and only until the next contract for a QB in the upper tier. The meat of the contract is in looking at the numbers themselves.

 The first thing to remember is that under the CBA the bonus money can only be spread out over five years. The six years here is as much to put an extension on part of the subsequent bonuses; all subject to further negotiations anyway.

 The raw numbers for the deal show that Joe will get a $ 29 Million signing bonus and a $ 1 Million Base salary in 2013. There is $ 30 Million to him. He gets a $ 15 Million Option Bonus in 2014 and a $ 7 million Option Bonus in 2015. All of those probably happen, so he gets $ 51 Million in bonus money plus $ 11 Million in base salary for those years. By the third year he is pocketing $ 62 Million; assuming he stays healthy and productive. In 2016, it gets dicey for the team, since his base salary jumps from $ 4 Million to $ 18 Million. They are at the bargaining table, so this is a three-year deal all things considered. The Salary Cap may be adjusted enough to give some wiggle room, but that is a lot to dump into one player on the roster.

 As to the Cap Numbers, the contract will divide the $ 29 Million over the first five years (5.8 each year), the $ 15 Million over five years beginning in 2014 ( 3.0 each year), and $ 7 Million over the last four years (1.75 per). Any of this is accelerated if Joe is cut before the end of the contract. For each year, here are the numbers ( Base Salary listed first):

 2013 - 6.8 ( 1 + 5.8)

 2014 - 14.8 ( 6 + 5.8 + 3)

 2015 - 14.55 (4 + 5.8 + 3 + 1.75)

 2016 - 28.55 ( 18 + 5.8 + 3 + 1.75)

 2017 - 31.15 ( 20.6 + 5.8 + 3 + 1.75) 

2018 - 24.75 ( 20 + 3 + 1.75).

 The key to all of this is that for now the Ravens have Cap Space to work with others right now. There will be other contracts to work on and try to adjust the overall roster numbers for this year and the future, but Joe will not be an impediment. This is workable for three years and then they can see how things are in the league and how Joe is doing at that time.