OWINGS MILLS, Md. -- The Baltimore Ravens raised some eyebrows around the league on Wednesday when they made quarterback Joe Flacco the NFL's highest-paid player for the second time in three years.

Flacco received a $40 million signing bonus -- $3 million more than any other player in league history -- and now averages $22.1 million in new money, which surpasses Green Bay's Aaron Rodgers ($22 million).

Record payday for Joe Flacco A look at the five biggest signing bonuses given to NFL players: Player Team Bonus Joe Flacco Ravens $40M Drew Brees Saints $37M Aaron Rodgers Packers $33.25M Ben Roethlisberger Steelers $31M Eli Manning Giants $31M Russell Wilson Seahawks $31M

Surprising? Absolutely. Flacco is coming off a season in which he tore two knee ligaments and is 22-22 since winning the Super Bowl.

Are the Ravens crazy? Not really, based on current NFL economics. Most teams are going to have to overpay when they want to keep good-to-great quarterbacks. When you're dealing with a Super Bowl-winning quarterback, it's going to come with a premium price.

"Teams struggle with the quarterback position," general manager Ozzie Newsome said. "Philly signing [Sam] Bradford and Washington having to put the franchise tag on [Kirk] Cousins [are examples]. They don’t have the résumé that Joe has, and for us to be moving forward with a guy that has eight years and won a Super Bowl and been in three AFC Championship Games, it speaks volumes.”

Newsome makes a strong point. It's difficult to criticize the Ravens' deal when you compare it to the ones given to Bradford and Cousins only a few days earlier.

The Eagles gave $22 million guaranteed to Bradford, who has missed 17 games in four seasons and has a 25-37-1 record.

The Redskins put a $19.95 million franchise tag on Cousins after only one season as a full-time starter in the league.

Baltimore Ravens quarterback Joe Flacco is 22-22 since winning Super Bowl XLVII. Patrick Smith/Getty Images

This underscores how the demand for quarterbacks exceeds the supply of quality ones, and this is why the Ravens were determined to get their franchise quarterback under contract for the prime of his career. Still, there is an argument that Flacco is getting too much money because his career 84.7 passer rating ranks 20th in the NFL since 2008. But, if Peyton Manning retires, Flacco will be one of seven active quarterbacks who have won a Super Bowl. He might not be an elite quarterback, but that's certainly an elite club.

The Ravens showed how much they value Flacco with the size of this deal. Baltimore loves Flacco's toughness, competitiveness, strong arm and ability to win games. Only three quarterbacks (Tom Brady, Manning and Rodgers) have won more games than Flacco since he entered the league in 2008, and no one has produced more victories in the postseason than him over the span.

Many will get hung up on the fact that Flacco is the highest-paid player in the league. It's just a fleeting fact. Drew Brees and Andrew Luck could surpass Flacco in the next few months. By the time he's halfway through the deal, his contract might not rank in the top five for quarterbacks.

Flacco's high-priced extension will only spur debates that the Ravens spent too much on him. But Baltimore believes that the organization would pay the ultimate price if it didn't recommit to Flacco.

"In spending time with numerous GMs over the last week up at the combine, they all dread the day when they don’t have a quarterback and what you do to have to go and get one, and we’re fortunate to have one," Newsome said. "So, in my mind, having Joe for the next six years, I think his best football is still ahead of him."