Falcons Rumors: Matt Ryan Restructures Contract, Opens Up $12M in Cap Space

According to Ian Rapoport of the NFL Network, the Atlanta Falcons restructured quarterback Matt Ryan's contract to free up $12 million in cap space.

Ryan had a cap hit of $48,662,500 per Rapoport and Over the Cap. He will get a base salary of $16,250,000 and a roster bonus of $7,500,000.

Before the restructure, Atlanta had $4,200,017 in cap space.

The Falcons have approximately $16.2 million in cap space, which would make them 16th in the league.

Ryan has two more seasons left on his contract. He has a salary of $210 million and a bonus of $7.5 million.

The cap hit may look like this in 2023.

Jason_OTC @Jason_OTC

Don't know this for certain but it's likely that Matt Ryan's 2023 cap number will now be around $55 million

The Falcons selected him with the third overall pick in the 2008 draft.

Ryan completed 67 percent of his passes for 20 touchdown and 3,968 passing yards. He has only missed three games in his career, which has included six playoff appearances, three South titles and the 2016 NFC Championship.

Ryan turns 37 years old in May, and his best football is likely behind him as the Falcons enter year two of a new era featuring general manager Terry Fontenot and head coach Arthur Smith.

Ryan is not the future at quarterback in Atlanta, but he has done well in his 14 years calling shots. He will be calling signals for the Falcons in 2022, leaving questions as to what the team will do in 2023.