Chevrolet, the official sponsor of the Super Bowl XlVII MVP Award, presented quarterback Joe Flacco with a brand-new 2014 Corvette Stingray this week in recognition of his effort in leading the Baltimore Ravens to win over the San Francisco 49ers on Feb. 3.

Rick Flick of New Orleans' Banner Chevrolet, which was wiped out by Hurricane Katrina in 2005 and then later became the first business to reopen after the storm, was on hand to present Flacco with the new car.

"We lost our entire inventory of 650 new Chevrolets and 120 pre-owned vehicles during Katrina," Flick said in a General Motors press release. "I'm happy we are still a vital part of this community today and I can be here to represent the people of Chevrolet and its dealerships as we celebrate the Super Bowl MVP."

The Super Bowl MVP receives the Pete Rozelle Trophy, a silver trophy made annually by Tiffany & Co., and a new car. The car awarded this year's recipient was the brand new Corvette which was unveiled at the 2013 *blank* Auto Show last month.

Flacco could owe up to $25,000 in taxes if he accepts the new Stingray instead of donating it to for a good cause according to Forbes.com.

"This situation is similar to Nobel Prize winners," said Kurt Badenhausen of Forbes.com. "Flacco qualifies because winning the Super Bowl MVP is a civic achievement. He won the award by doing his job, not by purchasing a raffle/lottery ticket or entering a contest, and he has no further obligation to Chevrolet, who is using the award to promote its vehicle on the largest stage in sports."

GM used a pre-production unit at the press conference, as the vehicle hasn't been released yet. This will give the Super Bowl champion a few months to consider what he wants to do with his new car.

Click here to see pictures of the new Stingray.

The 2014 Stingray will be one of the most powerful vehicles on the road once it's released this spring, with an estimated 450 horsepower (335 kW) and 450 lb.-ft. of torque. The newest model is able to accelerate from 0 to 60 in a little under four seconds, and is expected to be the most fuel-efficient Corvette ever.

"Banner Chevrolet and the entire city of New Orleans have been through so much since the storm, we felt this was a small gesture to bring the comeback story full circle," said Alan Batey, GM vice president of U.S. Sales, Service and Marketing in the company press release. "With the Super Bowl in his backyard, we couldn't think of a better guy to have the honor of awarding the MVP with his Corvette Stingray."

Banner Chevrolet recorded one of the largest losses ever for a dealership in the U.S. and only recently completed a multimillion-dollar renovation. Banner is the only Chevy dealer in Orleans Parrish according to the press release issued by GM.

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