Matt Ryan Contract Restructure: 3 things we know following the news

Three things we know following the news of Matt Ryan’s contract restructure

Atlanta Falcons fans were given news Tuesday afternoon that was met with varying degrees of reactions when it was reported that Matt Ryan would be receiving a contract restructure. 

The Falcons were facing a budget crunch with one of the worst cap situations in the league heading into this 2021 offseason and the biggest contract on the books was that of QB Matt Ryan. As a matter of fact, Ryan was slated to be the largest cap hit of anyone in the league before the restructure.

WSB-TV Sports Director Zach Klein reported Tuesday that the Falcons converted $21 million of Ryan’s $23 million salary to a signing bonus. As a result, Ryan’s cap hit is $26.9 million rather than the original $40.9 million.

What can we learn from the contract restructure? Here’s a look at three takeaways for the Falcons moving forward.

3. The Falcons now have cap space

The first thing you have to take away from this restructure is the fact that the Falcons now have cap space.

Even after restructuring LT Jake Matthews’ contract that saved the team $8 million, Atlanta was still right around $10 million over the cap.

Now, with the $14 million in savings on Ryan’s contract in 2021, the Falcons are under the cap. Albeit, they’re only a few million under the cap, but they are under the cap.

Being under the cap is critically important simply because of the league’s penalties that can come down if you remain over the cap past its deadline. The last team to do so was the Dallas Cowboys and they lost their first-round pick as a result.

While this move isn’t bringing in a ton of superstars, it does give the Falcons a working space to begin and sift through the mismanagement left behind by the previous regime.