Colts Create $6M Of Cap Room By Reworking Matt Ryan’s Deal

Field Yates reports that the Colts and Matt Ryan have agreed to a reworked contract that will cover $12 million of his salary into a signing bonus to create $6 million in cap space. 

Earlier this week, Indianapolis was reportedly adding guarantees to the final two years of Ryan’s contract. 

The veteran had no more guarantees remaining on his deal and all his dead money stayed with the Falcons, so this gives Ryan some additional security going forward. 

Ryan, 36, is a former first-round pick of the Falcons back in 2008. He was entering the final year of his six-year, $103.75 million contract when he agreed to a new five-year, $150 million extension with the Falcons in 2018 that included $100 million guaranteed.

Ryan’s contract has been restructured multiple times in recent years for cap space, which is why his cap figures have annually been so high. He was due base salaries of $17.2 million and $21.7 million the final two years of his deal when the Falcons traded him to the Colts for a third-round pick in 2022. 

In 2021, Ryan appeared in all 17 games for the Falcons and completed 67 percent of his passes for 3,968 yards, 20 touchdowns, and 12 interceptions to go along with 82 rushing yards and one rushing touchdown.