Falcons restructure QB Matt Ryan’s contract to free up $12M worth of cap space

There were some eyebrows raised during the NFL Scouting Combine when Atlanta Falcons general manager Terry Fontenot didn’t fully commit to quarterback Matt Ryan being the team’s 2022 starter.

Well, Ryan’s most certainly displaying his commitment to the team.

The Falcons have restructured Ryan’s contract to create $12 million in salary cap space ahead of the start of the new league year on Wednesday, NFL Network Insider Ian Rapoport reported on Friday evening.

Ryan, who was due $23.75 million in cash in 2022 according to Rapoport, previously had a cap number of $48,662,500.

As of Friday, per Over the Cap, the Falcons were $4.2 million under the salary cap, but $1.7 million over in effective cap space. 

The 37-year-old Ryan has two seasons remaining on his current contract and is heading into his 15th NFL season — all with the Falcons. A four-time Pro Bowler and former AP NFL Most Valuable Player, Ryan completed 375 of 560 passes (67%) for 3,968 yards, 20 touchdowns and 12 interceptions in 2021, which saw Atlanta go 7-10.