A league source tells us that the Baltimore Ravens soon will be reaching contract terms with quarterback Joe Flacco, a first-round pick in the 2008 draft.

Per the source, the deal is “imminent.”

The team and Flacco’s agent, Joe Linta, have been talking for weeks.

If Flacco signs soon, the status of first-round quarterbacks will be far different in 2008 than they were in 2007.  Last time around, the two first-round quarterbacks (JaMarcus Russell of the Raiders and Brady Quinn of the Browns) had lengthy (and, at times, ugly) holdouts.  This year, both Flacco and Matt Ryan of the Falcons will be in camp and ready to go. 

The former Delaware quarterback initially played at Pitt, but then transferred once Tyler Palko emerged as the favored son at the position.