Field Yates of ESPN reports that the Falcons have converted RT Ryan Schraeder‘s $6M roster bonus into a signing bonus and created $4.8 million of cap space in the process.
Entering today, the NFLPA has the Falcons with $17,757,523 of cap space.
Schraeder, 30, signed on with the Falcons as undrafted free agent out of Valdosta State back in 2013. He played out his three-year, $1,487,000 rookie contract with the team before Atlanta used a second-round restricted tender in 2016.
Schraeder was headed towards becoming an unrestricted free agent when the Flacons signed him to a five-year, $32 million extension that included $7.5 million guaranteed in 2016.
According to OverTheCap.com, releasing Schraeder will free up $3.95 million of available cap space while creating $3.8 million in dead money.
In 2016, Schraeder appeared in all 16 games for the Falcons and is rated by Pro Football Focus as the No. 13 offensive tackle out of 78 qualifying players.
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