Baltimore Ravens' Joe Flacco was proclaimed as Most Valuable Player during the 47th Super Bowl. Now that he has risen to fame, how much will the Baltimore Ravens be willing to spend in order to keep their quarterback?

Without a doubt, Joe Flacco did a wonderful job in helping his team win the Super Bowl championship against the San Francisco 49ers. Although a lot were betting on Colin Kaepernick for the MVP crown, it came as a surprise when Flacoo redeemed himself and proved worthy of the title.

And now that there's appraisal on his value, the Baltimore Ravens are preparing a lucrative contract to be able to keep Joe Flacco as their quarterback. Apart from that, the player was also given an expensive 2014 Corvette.

If rumors were true, Flacco and his camp and believed to be aiming for a figure around $20 million per year.

"He's now made a case for $20 million a year. And I think he's gonna try to hold to that. Last season what I was hearing was he was asking for about $17 million. See if he can get over Drew Brees' contract. I think he can," John Clayton of ESPN said.

Now that Flacco has become an ultimate hardware for the NFL, the Ravens will definitely need to adjust his contract. As of the moment, Tom Brady is still the highest paid NFL player with $21.8 million, followed by Matthew Stafford with $21.2 million.

"He immediately becomes a national figure. If he had walked down the street in Chicago last week, probably no one would know him. Now, everyone is going to know him because the Super Bowl is a marketer's dream," Joe Linta, Flacco's agent, told CNBC.

And when asked whether Joe Flacco should be the highest paid quarterback, Linta simply said, "Yes."

"When you do a contract of this magnitude, you look at what is the player's body of work presently. And what are the expectations going forward over the next four, five or six years," Linta added. "Joe wins on both accounts."

Also read:

Joe Flacco: 10 Things You Need To Know About Super Bowl's MVP [PHOTOS]

Baltimore Ravens Win: 47th Super Bowl Highlights [PHOTOS & VIDEOS]

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