The Baltimore Ravens are set to try to trade quarterback Joe Flacco this offseason. With a $26.5 million cap hit in 2019 and Lamar Jackson as the new franchise quarterback, there’s little reason for Baltimore to keep Flacco around.

I’ve talked about what Flacco’s trade value realistically is. But the more I look at Flacco, the free agent market and the 2019 draft class, the more I think Baltimore could hit a relative payday by trading Flacco this offseason. In fact, I think there’s a case to be made for the Ravens getting a first-round pick in return for Flacco if they play their cards right.

Many pundits have criticized Flacco over the years as a lackluster starter and are now wondering if Baltimore can trade him at all. Over the last decade, three quarterbacks have been traded for first-round picks and usually considerably more: Carson Palmer, Jay Cutler, and Sam Bradford. Each had a number of red flags surrounding him.

Palmer was 31 years old when he was traded to the Oakland Raiders. He had been largely mediocre with the Cincinnati Bengals, finishing the 2010 season with the 19th-highest passer rating in the league.

Cutler was traded from the Denver Broncos to the Chicago Bears after a Pro Bowl season but was clearly on the outs with new coach Josh McDaniels.

Bradford was the most recent big trade, going from the Philadelphia Eagles to the Minnesota Vikings just before the 2016 season. Bradford was coming off a mediocre year, throwing for fewer than 3,800 yards to go with 19 touchdowns and 14 interceptions over 14 games. Bradford also had an extensive injury history by that point, missing 31 games over the five previous seasons.

By comparison, Flacco is a former Super Bowl MVP with a relatively clean injury history. Though he’s never been at the top of the league, Flacco has had his positive moments in spite of never having a loaded roster around him. He’s a great option for teams that either want a veteran stopgap quarterback or a team that thinks they can give Flacco the talent to finally succeed as their new franchise quarterback for a few years.

Many believe the biggest obstacle is Flacco’s cap hit, but it’s not nearly as bad as you’d think. According to Over The Cap, the Ravens will eat $16 million in prorated bonus money if they trade or cut him outright. That would put Flacco’s cap hit for any other team at his $18.5 million base salary for 2019 if he’s traded. For a starting quarterback, that’s actually a relative bargain but one Baltimore could further chew down by taking on some of his salary in a trade as well.

Really, the biggest issue with gaining a first-round selection for Flacco has to do with the potential trade markets for quarterbacks like the Oakland Raiders’ Derek Carr and the Philadelphia Eagles’ Nick Foles. However, neither of those quarterbacks is guaranteed to be traded or hit free agency. If neither becomes available, things look far grimmer for teams in need of a starter next season.

Only Tyrod Taylor and Teddy Bridgewater look to be starting-quality free agents at this stage. Even then, Taylor was ousted from the Buffalo Bills and Cleveland Browns for his lackluster results. Bridgewater suffered a devastating knee injury — which prompted the aforementioned Bradford trade — and he’s played in only six games since. He didn’t look too hot in his limited action leading the New Orleans Saints in Week 17. It’s not a stretch to think no team believes either Bridgewater or Taylor is a viable starter any longer.

There are expected to be at least four teams interested in a quarterback this offseason, with upwards of six potentially needing an immediate starting quarterback. The New York Giants, Denver Broncos, Jacksonville Jaguars, Miami Dolphins, Tampa Bay Buccaneers and Washington Redskins could all be looking for an answer at quarterback, and that’s before any injuries occur.

The number of teams in need, mixed with the lackluster free-agent market and a draft class that could have only two first-round quarterbacks, makes for an ideal situation for the Ravens. One Flacco could easily stand at the very top of for a number of teams.

Even if there are difficulties finding that level of interest, Baltimore could incentivize a higher draft pick in return by coupling Flacco with a draft selection of their own. I have Flacco being worth around a third-round selection in a trade already. But the Ravens are expected to earn a third-round compensatory selection for center Ryan Jensen. Adding that to any trade could give Baltimore enough leverage to actually gain a first-round pick while still retaining their own third-round selection.

Some things will have to fall into place for the Ravens to make a serious case for Flacco being worth a first-round pick in a trade. But it’s not that many things and history certainly points to the potential a franchise quarterback has to bring that type of value. Don’t rule out the notion Baltimore could cash in big this offseason.

Update: Flacco’s 2019 cap hit would be $18.5 million, not $10.5 million. That would be Baltimore’s cap savings for cutting or trading him this offseason.