After failing to sign a contract extension before the 2012 season, Baltimore Ravens quarterback Joe Flacco won the Super Bowl (and its MVP award) and signed a $120.6 million deal that makes him the highest-paid player in the league. 

However, one year before his rookie deal expired, the Ravens were very close to significantly less lucrative agreement.

According to USA Today Sports only $1 million separated the sides:

That's $1 million in total value over the course of a six-year offer that would have paid Flacco in the neighborhood of $35 million in guarantees.

Instead, he played out his contract, won the Super Bowl and last week signed a six-year deal with $52 million guaranteed and up to $120.6 million in total.

Geez oh peez, that's a pretty expensive mistake right there.

Good things come to those who wait, unless you're the Ravens, in which case waiting to sign Joe Flacco to a contract extension cost you roughly $17 million in guaranteed money.

Ouch.