Falcons Going Shopping? Not Until Matt Ryan's Restructured Contract Becomes Official
Matt Ryan’s on-field ability remains a positive. His cap number, however, is burdensome.
The Atlanta Falcons have therefore made a change.
It was announced Friday that Ryan’s restructured contract creates $12 million in salary cap space ahead of the start of the new league year Wednesday. However, just hours ahead of the new league year starting, the paperwork had yet to be filed.
The Falcons can't really shop for free agents ... or trade Ryan ... until this is done.
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Ryan, the one-time NFL MVP quarterback, entered this process having two years remaining on his contract, and was scheduled to have the highest cap hit in NFL history at $48.662 million.
The restructure means room this year - but the piper will still be paid … and so will the QB. He is not suddenly going to be paid less; there is no “sacrifice” made here.
It’s a bookkeeping trick, a conversion of how his income is reflected via the salary cap.
The Falcons moved his money in a way that subtracts a cap “payment” this year but still includes cap charges pushed into the future.
Ryan, who turns 37 in May, hasn’t made the Pro Bowl since 2016. But the Falcons - before the front office takeover of general manager Terry Fontenot and head coach Arthur Smith - made their financial bed with him long ago. And now they are dealing with that - while also trying to develop into a contender.
The $12 million in cap room, along with the $11 million freed up by the NFL suspension of receiver Calvin Ridley, figures to mean Atlanta now has $16 million of room, which helps allow the Falcons to enter some of the bidding this week.
