According to Mike Garafolo, the Falcons have restructured contracts for OT Jake Matthews and S Ricardo Allen, converting some of each player’s base salary into a signing bonus.
Via Vaughn McClure, the Falcons converted $2.25 million of Allen’s base into a bonus, along with converting $4.375 million of Matthews’ base to a bonus.
The Falcons cleared $5 million of cap space, per Tom Pelissero, which puts them “just barely into positive space.”
Atlanta has also been working on an extension for WR Julio Jones, so these moves could potentially be a sign that deal is imminent.
Matthews, 27, was taken with the No. 6 overall pick by the Falcons back in 2014. He was entering the final year of his four-year, $16.5 million rookie contract and set to make a base salary of $690,000 for the 2017 season when the Falcons picked up his fifth-year option.
Matthews signed a five-year, $75 million extension with the Falcons in 2018.
In 2018, Matthews appeared in all 16 games for the Falcons and was rated by Pro Football Focus as the No. 10 offensive tackle out of 80 qualifying players.
Allen, 27, is a former fifth-round pick of the Falcons back in 2014. He was waived a few months after he was drafted and later signed to the Falcons’ practice squad at the start of the 2014 season.
Allen returned to the Falcons on a one-year exclusive rights contract the past few years and tested the open market as a restricted free agent this offseason before signing his one-year tender worth $2.914 million.
The Falcons and Allen later agreed to a three-year, $19.5 million extension in 2018.
In 2018, Allen appeared in three games for the Falcons before going on injured reserve and recorded 17 tackles, an interception and three pass defenses.
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