Colts, Matt Ryan Restructure Contract, Creates More Cap Space
The Indianapolis Colts took a big swing this week and landed their new starting quarterback, Matt Ryan, in a trade with the Atlanta Falcons.
The move gives the Colts the steady quarterback play they covet with very little downside. However, if you are sifting through the pros and cons of the move then Ryan's price tag is something to notice. The Colts certainly did and have restructured the deal to open up some cap space, perhaps to add more talent around Ryan.
Owed roughly $54 million with two years left on his contract, the Colts picked up the $7.5 million roster bonus owed to Ryan on Tuesday, per NFL Network's Ian Rapoport, and added guarantees throughout the two-year deal. Essentially, they took money that would've counted against the cap and converted it into guaranteed bonuses.
On Thursday, more details were brought to light, courtesy of ESPN's Field Yates.
After the trade became official, the Colts had about $15.85 million in cap space, per OverTheCap. Restructuring Ryan's deal now raises that to about $21-22 million, which gives them the opportunity to address some of the needs around Ryan — primarily left tackle, right guard, wide receiver, and tight end — both through free agency and the draft.
While there are still some big names out there in the free-agent market who would command expensive contracts, we are now at the point of the offseason where the Colts thrive by giving sensible deals to starting-level role players.
What do you think about this move? Drop your thoughts below in the comment section!
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