The Baltimore Ravens have agreed in principle to a five-year deal with first-round draft pick Joe Flacco on a contract with a maximum value of $30 million that includes $8.75 million in guaranteed money for the quarterback.

Flacco’s agent, Joe Linta, confirmed the Wednesday night deal.

Drafted 18th overall out of Delaware, Flacco is slated to compete for the starting job with Troy Smith and Kyle Boller. Rookies, quarterbacks and injured veterans are scheduled to training camp Monday at McDaniel College in Westminster.