If Drew Brees wants to reach maximum value in his next contract with the New Orleans Saints, then Joe Flacco just raised the bar for him.

The two quarterbacks were in similar contract and salary-cap situations -- and Flacco parlayed that into a three-year extension Wednesday worth $66.4 million in new money, a source told ESPN's Adam Caplan.

Depending on the structure, that appears to be the richest extension in NFL history, surpassing Aaron Rodgers' current $22 million per year.

And that could be a starting point for Brees' next contract extension, which is expected to take place at some point this offseason.

Although Brees is 37 years old and Flacco is 31, a strong argument could be made that Brees is still the better quarterback and will be for the next two or three years. Brees has shown some inconsistency in recent years, but he still led the NFL with 4,870 passing yards in just 15 games played last season.

Furthermore, these quarterback deals often seem to piggy-back off of the previous one. That's why Brees set a NFL record with his five-year, $100 million contract in 2012 ($20 million per year) -- only to have Flacco top it with his six-year, $120.6 million deal in 2013 ($20.1 million per year).

Since then, seven other QB deals passed them both.

So if Brees wants to demand more than $22.1 million per year, he's well within his rights. I wouldn't criticize him for declining to take a "hometown discount" -- which is rare for almost every player in professional sports other than Tom Brady.

Case in point: Flacco didn't take a hometown discount, even though the Ravens and Saints have faced similar roster erosion since winning their respective Super Bowls. And the Ravens don't seem to mind too much.

As Ravens general manager Ozzie Newsome said in Wednesday's news conference, "In spending time with numerous GMs over the last week at the combine, they all dread the day when they don't have a quarterback and what you have to do to get one. I just spent about five days with GMs that are looking for a Joe Flacco. They're not sleeping at night. I can tell you that. We did that and no one can appreciate a good quarterback as much as Ozzie Newsome after going through what we went through."

Even if Brees signs for more than $22 million per year, that would still create substantial salary-cap relief for the Saints, since Brees is carrying a $30 million salary-cap hit right now in the final year of his contract. (Flacco, by comparison was set to count $28.55 million against Baltimore's cap this year).

For example, if Brees signs a three-year extension worth $68 million, the Saints could spread out the cap costs evenly at $24.5 million per year -- or they could go even lower in 2016, with higher values in future years.

The more fascinating question is what Brees wants to do.

Does he have any interest in leaving money on the table to help the Saints spend more on their struggling defense and aging offensive line?

Brady has done that to almost unprecedented levels with the Patriots. His previous contract extension in 2013 wound up paying him only $15 million per year over the final three years. The details of Brady's latest contract extension that he agreed to this week have not been revealed yet -- but it is not expected to include a substantial raise.

Brady's case is rare, though. And there are reasons to believe Brees won't follow suit.

For one thing, Brees is represented by power agent Tom Condon, who represents many of the NFL's top quarterbacks including Peyton Manning and Eli Manning. He probably won't be eager to help set a "discount" precedent. And Brees himself was a longtime leader in the NFL Players Association until recently, so he also recognized the value of setting the bar high for other players. Those 2012 negotiations lasted deep into the summer, with Brees missing offseason practices during the stalemate.

Perhaps the best win-win scenario would be extending Brees at his current rate of $20 million per year -- so he's not really taking a pay cut, while still not maxing out. I wouldn't be surprised to see something like that, and coach Sean Payton said last week that expects Brees' extension to happen "very easily" and "uneventfully."

But Brees shouldn't be criticized if he aims higher. Not only has he earned it by being the greatest player in franchise history, but he remains New Orleans' best chance at success over the next two or three years.