Flacco, the MVP of Super Bowl XLVII, is set to become an unrestricted free agent. His new deal is expected to rival those of Peyton Manning and Drew Brees, whose contracts are among the most lucrative in NFL history for quarterbacks.
Flacco's agent, Joe Linta, said in an interview with CNBC that Flacco should be the NFL's highest-paid quarterback.
"I think everybody is going to see what Joe [Flacco] ends up signing for," Rodgers said Tuesday on his weekly radio show on 540 ESPN. "I'm sure they want to lock him up. He's a great player -- had an incredible run in the playoffs -- and I'm sure they want to keep him around. A guy like that, with the postseason success he's had, you want to keep a guy like that around for a while."
Also a former Super Bowl MVP, Rodgers is under contract through 2014, having signed a six-year, $65 million contract in October 2008. Rodgers' base salary next season is $9.25 million, while his 2014 deal is worth $10.5 million. Manning ($18 million base salary) and Brees ($20 million base) also are former Super Bowl MVPs.
Rodgers, who didn't discuss whether he would give the Packers a hometown discount, understands that the market will dictate his next contract.
"It kind of is what it is, as far as that goes. The team, when they're ready to talk contract, we'll get there when we get there," Rodgers said.
Rodgers also is confident that things will work out with the Packers, saying, "When that time comes, we'll get a deal done. I'm not worried about that. I think the Packers want to keep me around for a little while longer, and I'd love to be a Packer for life."