Field Yates of ESPN reports that the Falcons restructured the contracts of QB Matt Ryan and DT Grady Jarrett, converting their base salaries and bonuses into signing bonuses that were paid out on Friday.
According to Yates, the Falcons prorated the signing bonuses and in turn, created over $12 million in 2020 cap space.
The Falcons are in a tough cap situation and had to make some moves, given that they were projected to be over the cap next year.
On Friday, Falcons GM Thomas Dimitroff downplayed the cap concerns regarding the team, saying they had some moves to be made.
Ryan, 34, 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 last year that included $100 million guaranteed.
Ryan stands to make base salaries of $11,500,000 and $20,500,000 over the next two years.
In 2019, Ryan has appeared in 14 games for the Falcons and completed 66.9 percent of his passes for 4,153 yards, 25 touchdowns and 14 interceptions. He has also rushed for 147 yards and a touchdown.
Jarrett, 26, is a former fifth-round pick of the Falcons back in 2015. He played out the final year of his four-year, $2.527 million contract and made a base salary of $1.907 million for the 2018 season.
The Falcons franchised Jarrett during the offseason before later signing him to a four-year, $68 million extension that included $42.5 million guaranteed.
In 2019, Jarrett has appeared in 15 games for the Falcons and recorded 68 tackles, 6.5 sacks, and two forced fumbles for the Falcons.