You made me do a little research and from what I gather: if the Ravens trade Joe Flacco they will have a ton of dead money against the cap.
http://baltimoresportsandlife.com/like-joe-flacco-stay/
That article was from last year, but this site shows his contract today and going forward: http://www.spotrac.com/nfl/baltimore-ravens/joe-flacco-4000/
The dead money is 47 million next year and 28 the year after that. They can't even think about life without Flacco (excepting injury) until 2019 when the cap hit would "only" be 16 million, but 2020 is more realistic with a dead money cap hit of 8 million.
I don't know whether that is good, bad, or ugly, but Flacco is here to stay.
And really, he played more than well enough to win this game, Pitta, Perriman, and Waller did not.
Edit: I just took a closer look at that trade offer. The Jets would get the Ravens 1st, 2nd, 3rd, and a SB MVP qb and all Baltimore would get is one first round pick? Talk about getting fleeced.