Report: Falcons Matt Ryan Restructures Contract

The Indianapolis Colts had been loosely linked with Atlanta Falcons quarterback Matt Ryan.

The quarterback news has come fast and furious this week, and the latest shoe to drop is the Atlanta Falcons restructuring quarterback Matt Ryan's contract.

The #Falcons have restructured the contract of QB Matt Ryan, source said, created $12M worth of cap room ahead of the new league year. Ryan, due $23.75M in cash in 2022, previously had a cap number of $48.66M.

— Ian Rapoport (@RapSheet) March 12, 2022

"The Falcons have restructured the contract of QB Matt Ryan, source said," reported Ian Rapoport on Twitter.  "Created $12M worth of cap room ahead of the new league year. Ryan, due $23.75M in cash in 2022, previously had a cap number of $48.66M."

Ryan's cap number was due to be the larges salary cap hit in NFL history, but the restructuring of his contact will free up much needed room for the Falcons.

The Indianapolis Colts dealt starting quarterback Carson Wentz to the Washington Commanders earlier this week and had been loosely linked with Ryan by various pundits.

The more realistic target for the Colts emerged late this week in the Las Vegas Raiders Derek Carr. It was reported the Colts could "get creative" in their trade offer to the Raiders. 

Last year, Carr led the Raiders to a 10-7 record in his eighth season in the NFL. He passed for a solid 4,804 yards and 23 touchdowns against 13 interceptions.

On the surface, those numbers look worse than what Wentz had for the Colts in 2021, but it was widely speculated that the Colts were more concerned with the leadership and attitude of their former quarterback than the play on the field.

Carr was a Pro Bowl selection three of his first four seasons in the NFL and has one year left on his five-year contract he signed in 2017. He carries no dead-cap weight according to Spotrac which would make him much easier to move than even Wentz was last season for the Eagles.