The biggest hit in the NFL is coming.
The Atlanta Falcons are restructuring quarterback Matt Ryan’s contract, lowering the $48,662,500 cap he originally intended for the 2022 season by $12 million, according to the Roster Management System.
The team converted $7.5 million of his base salary and $7.5 million of his roster bonus, originally due next week, into a signing bonus to spread over several years, giving the Falcons more room to play. . Ryan’s new limit for 2022 is $36,662,500 and his new base salary is $8.75 million.
To do this, the Falcons added three invalid years from 2024 to 2026 for a total of $9 million. Ryan’s dead money for 2022 is now $55.525 million.
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Atlanta, which broke the salary cap a week ago, now has $16,215,670, according to the roster management system, following Ryan’s restructuring and Calvin Ridley’s suspension on Monday for at least the 2022 gambling season. Ridley’s suspension cost Atlanta $11.1 million this season.
At this month’s NFL meeting, Falcons general manager Terry Fontenot acknowledged that some of the team’s big contracts were “the elephant in the room.” Ryan’s contract – the ceiling number in particular – has been one of the hottest topics of conversation about how the Falcons are going to hit the ceiling salary cap.
“It’s a challenge. I wouldn’t say it’s a problem,” Fonteno said. “I would say it’s a challenge that we need to work on.”
The Falcons have restructured Ryan’s contract for the fourth year in a row. Ryan’s contract runs until the end of the 2023 season, when it’s capped at $46,612,500, but potential dead money in the deal drops to $27,612,500.
Ryan, who turns 37 in May, completed 67% of his passes for 3,968 yards, 20 touchdowns and 12 interceptions in his first year under coach Arthur Smith last season. It was the first time since the 2010 season that he had thrown under 4,000 yards, and only the third time in his career that he had thrown under 21 touchdowns. Ryan was also fired 40 times last season, the fourth year in a row he was fired at least 40 times.
In February, Falcons owner Arthur Blank said the team had been mulling over a succession plan for Ryan and that those conversations were in place before Smith and Fonteno were hired.
“Let’s get this clear. At some point, we need to understand that Father Time really gets us all, and at some point, we need to make a clear succession plan for the next quarterback,” Blank said in February. “Teams in the league that have successfully dealt with this are really in a good position.
“The ones who didn’t are the ones who struggle for a few years as they switch between quarterbacks, which is not really the final decision.”
At the mill, Smith said they expected Ryan to be part of the Falcons this season, but left open the possibility of a move if the team made Atlanta an offer they couldn’t refuse. Smith has consistently made similar comments since the end of the season about Ryan and his future in Atlanta.