It seems previous reports indicating touching Matt Ryan’s contract would be a last resort for the Falcons front office were indeed wrong. On Friday, Atlanta restructured Ryan’s contract to create some much-needed cap space.
The Atlanta Falcons are restructuring QB Matt Ryan’s contract to clear cap space in 2022
Ryan is owed a $7.5M roster bonus on March 19th and has a $16.25M salary for 2022.
His $48.662M cap hit for 2022 was the biggest in the NFL headed into the season, Atlanta gets some room
— Brad Spielberger, Esq. (@PFF_Brad) March 11, 2022
His $48.6 million cap hit would’ve actually been the largest for any player in NFL history if it untouched. However, it is a bit misleading. Ryan isn’t the highest-paid player in the league; his cap hit was just the highest.
Ryan’s actual salary is just $16.25 million, with a $7.5 million roster bonus due in March, which is just $23.75 million. The rest is all prorated bonus money from restructuring Ryan’s contract year after year. So, the nearly $50 million cap hit is a bit deceiving.
Talkin’ Birdy’s Matt Karoly believed the action would come during the week of March 7th, which he nailed.
https://twitter.com/mattkaroly/status/1496679937507536899?s=20&t=lQuBvcsjaqZiLg7XFmJaMQ
All this means is it will be more difficult to move off Ryan next season. Expect him to be the quarterback in Atlanta for at least two more years. With a potential 2023 release, it would cost the team $20.5 million in dead cap with a savings of $26.9 million.
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