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Matt Ryan restructures contract, Falcons gain $14M in cap space

As Arthur Smith takes the reins in Atlanta, Mike Florio and Chris Simms discuss whether a new coach can give Matt Ryan new life and where the Falcons need to improve on defense.

The Falcons have talked about adding a quarterback to the roster this offseason, but they shot down suggestions that Matt Ryan would be going anywhere and that’s almost certainly the case after restructuring his contract.

Ryan was set to have a cap hit of $40.9 million for the 2021 season, but Zach Klein of WSB reported Tuesday that he has cut that number down to $26.9 million with a restructured deal. The Falcons converted $21 million of Ryan’s $23 million salary to a signing bonus, so only $7 million of that total remains on this year’s cap.

Ryan’s cap hit for the 2022 season is now set to be over $48.6 million with more than $40.5 million in a dead cap hit if the Falcons were to trade or cut him next offseason without a post-June 1 designation.

That may make such a move unlikely, although the financial landscape of the league may look very different at this time next year and the Falcons’ moves in April’s draft will likely have something to do with Ryan’s future in Atlanta as well.