Falcons To Restructure Matt Ryan’s Deal?

MARCH 16, 11:55am: The Falcons have yet to process a restructuring of Matt Ryan‘s deal (Twitter link via Ari Meirov). That could be an indication that they’re serious about their pursuit of Deshaun Watson, who met with the Falcons today.

MARCH 11, 8:35pm: The man who was projected to have the highest cap number in the NFL in 2022 has re-worked his contract. NFL Network’s Ian Rapoport reports that the Falcons have restructured Matt Ryan‘s deal (Twitter link). 

As Rapoport details, the move creates $12MM in cap space for the upcoming season. While he was only due to make $23.75MM in 2022, Ryan’s cap number was slated to be over $48.66MM. That was a result of previous financial maneuvering, which contributed in no small part to the team’s current difficult cap situation. Ryan’s pact follows a similar pattern in its two remaining years.

Last month, owner Arthur Blank made it clear the team is putting together a succession plan for their franchise QB. The former third-overall pick will be 37 when the 2022 season starts, and it surprised many when the Falcons chose not to draft an heir apparent with the No. 4 selection last April.

Ryan has been the model of consistency throughout his 14 seasons in Atlanta, including, most notably, his MVP season in 2016 that led to a trip to the Super Bowl. Since then, his individual stats have been essentially on par with his career averages, although the team as a whole hasn’t been able to replicate that previous success. In 2021, the four-time Pro Bowler completed 67% of his passes for 3,968 yards and 20 touchdowns.

With this move, the Falcons will now have roughly $16.2MM to work with heading into free agency next week. One obvious use for the manufactured space would be to re-sign linebacker Foyesade Oluokun, who earned himself a pay raise after leading the NFL in tackles last season. It was recently reported that he could reach the $10MM per year mark on a new deal – a figure which would now be easier for Atlanta to accommodate.

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