Former Baltimore Ravens quarterback Joe Flacco has been traded from Maryland, and will now play for the Denver Broncos going forward.

According to the report, the former Super Bowl MVP has been traded “in principle,” though the trade cannot be processed until the new NFL league year begins on Wednesday, March 13. Both the Ravens and the Broncos are prohibited from commenting on the deal or the terms surrounding it.

CBS Sports has more details on the Flacco trade that has, in a word, shaken up the NFL quite a bit.

“Baltimore's compensation presumably won't be anything more than a mid-round draft pick, considering Flacco is scheduled for an $18.5 million base salary in 2019, per overthecap.com. Of course, the 34-year-old might be willing to lower that number in exchange for his best shot to win a starting job. It isn't clear what the Broncos plan to do with fellow quarterback Case Keenum, who is scheduled for a $21 million cap hit if he's on the roster or a $10 million charge if he isn't (per OTC). The Broncos may envision a competition between Flacco and Keenum, or they could trade/release the latter and then bring in a young QB.”

Prior to his NFL career, Flacco was a prominent college football player. He played college football at Delaware after transferring from Pittsburgh and was drafted by the Ravens in the first round of the 2008 NFL Draft.

Under Flacco, the Ravens have won the AFC North twice, appeared in three AFC Championship Games, and defeated the San Francisco 49ers to win Super Bowl XLVII following the 2012 NFL season.