Field Yates of ESPN announced today that the Falcons created over $12 million in cap space by restructuring the deals of Matt Ryan and the newly re-signed Grady Jarrett:
The Falcons restructured the contracts of QB Matt Ryan and DT Grady Jarrett, converting 2020 base salary and bonuses into bonuses paid out yesterday.
The moves allow those bonuses to prorate and created north of $12M in 2020 cap space. Planning ahead by Atlanta.
— Field Yates (@FieldYates) December 28, 2019
I absolutely love this move by Rich McKay, TD and company. It’s no secret the Falcons have one of the bottom 3 cap situations in football. It’s not like they’re loaded down with a boatload of bad contracts, they just have a lot of stars they have to pay accordingly. Austin Hooper is a free agent this offseason along with Devondre Campbell who will likely not be returning. This front office has made it clear they plan on making some moves in free agency this spring, so getting out from James Carpenter and Jamon Brown’s ugly deals will likely be priority number 1. We could also see Devonta Freeman moved and free up close to another $14.5 million.
If this $12 million goes solely to Austin Hooper, this will be a massive success. You have to think with a Julio Jones extension looming they also have him in mind. Hopefully a couple of other guys on this squad will be willing to do the same (maybe Trufant or Keanu Neal) to get some more space open and sign some impact players this offseason.