One month after the Broncos reached an agreement with the Baltimore Ravens to acquire quarterback Joe Flacco, the trade became official Wednesday upon the start of the NFL’s signing/trading season.

The Broncos gave Baltimore the fourth-round pick in this year’s draft. The Broncos still have a fourth-round selection they acquired from Houston for receiver Demaryius Thomas.

Flacco, 34, becomes the third projected Week 1 starter in as many years for the Broncos. He will make $18.5 million in 2019 but has no guaranteed money on a contract that runs through 2021.

Flacco became available when the Ravens drafted Lamar Jackson in last year’s first round and kept him in the starting spot after Flacco’s mid-season injury.

Flacco replaces Case Keenum, who was traded to the Washington Redskins, and represents another kick at the quarterback can for general manager John Elway.

“I’m excited about the answer I got and about what we’re going to do offensively,” Elway told The Denver Post.

Elway, his personnel staff, new coach Vic Fangio and new offensive coordinator Rich Scangarello identified Flacco as the best available option during extensive meetings in January-February.

“He can throw the ball anywhere and he’s got a deep ball,” Elway told The Post. “And he’s better athletically than people think he is.”

Flacco visited the Broncos’ headquarters last month for a physical and to briefly meet with team personnel. He will be introduced at a press conference on Friday.

In an interview with the Broncos’ website, Elway said of Flacco: “We thought with what we’re going to do offensively, he would be a very good fit for us. We thought the compensation was good so we’re excited about watching Joe and having him in here.”

Improving the offensive line remains a critical work-in-progress to give Flacco the best chance to succeed. The Broncos agreed to terms with new right tackle Ja’Wuan James on Wednesday.

“If we protect (Flacco) and do a good job of that, he’ll make the right decisions,” Elway said.

A first-round pick out Delaware in 2008, Flacco has a 96-67 regular season record and a 10-5 playoff record. Flacco led the Ravens to a Super Bowl title in the 2012-13 season that included an overtime victory in the AFC Divisional round over the Broncos at Mile High.

In his career, Flacco has 221 touchdowns and 136 interceptions in the regular season and 25 touchdowns and 10 interceptions in the playoffs.

“He’s been a productive quarterback his entire career,” Fangio said on the Broncos’ website. “He still has arm strength, which has always been a big thing for him.”

After the Ravens’ season ended with a wild-card round home loss to the Los Angeles Chargers, coach John Harbaugh acknowledged that the team was moving forward with Jackson but also had high praise for Flacco.

“Joe can throw the football,” Harbaugh, who arrived with Flacco in Baltimore in 2008, told reporters. “He’s a big, strong quarterback. He’s moving much better than he was in ’15, after the injury in ’16 and even ’17. Joe’s ready to roll. You protect Joe, give him some weapons out there (and) you’re going to see one of the best quarterbacks in the league.”

Flacco has the confidence of his former coach and new general manager, but his numbers should raise concern about whether he can regain the form of early in his career.

Among the 30 quarterbacks with at least 1,000 pass attempts since 2015, Flacco is:

Second-to-last in passer rating (82.7),

Tied for eighth-most with 46 interceptions,

Twenty-fourth with 64 touchdown passes,

And 14th in completion percentage (63.9).

Flacco sustained a torn ACL/MCL in 2015 and a hip injury last year, when he completed 61.2 percent of his passes for 2,465 yards with 12 touchdowns and six interceptions. He had 14 completions of at least 25 yards.

A key component of why the Broncos were interested in Flacco was his comfort level under center.

Per STATS, Inc., Flacco was 114 of 182 for 1,240 yards, with six touchdowns and seven interceptions in 2017 on attempts from under center. Last year, he was 48 of 74 for 595 yards (64.9 completion rate). A staple of Scangarello’s offense is having the quarterback under center and running play action.

The Broncos should expect to get a motivated player eager to prove he still has many years of productive football left.

“He’s got the veteran moxie and the determination of losing his job and not getting a chance to play again,” said Charles Davis, an analyst for NFL Network and FOX. “The Broncos, as they are constituted on offense, is similar to Baltimore, which I think fits him really well. It’s run the ball, throw off play action and find some guys downfield. The good thing is he walks in with a Super Bowl ring and a Super Bowl MVP.”

Flacco will be working with newbies at head coach (Fangio), play-caller (Scangarello), quarterbacks coach (T.C. McCartney) and young players all over the skill position depth chart.

“He better be (ready to lead),” Davis said of Flacco. “He’s a big help with the experience he has and he’ll probably relish that role.”