Ryan’s contract reportedly restructured for cap relief

In a move to get under the NFL’S $ 182.5 salary cap by the start of the new league business year at 4 p.m. today, the Falcons restructured quarterback Matt Ryan’s contract, according to Zach Klein of WSB.

The Falcons are now an estimated $ 3.5 million under the salary cap, according to Sportrac.com. This is the fourth time that Ryan’s contract has been restructured since he signed a five- year, $ 150 million contract in May 2018.

The Falcons also recently restructured left tackle Jake Matthews’ contract by turning his $ 13 million base salary into a signing bonus, as previously reported by The Atlanta Journal- Constitution.

Ryan was due $ 23 million and took $ 21 million that was turned i nto a guaranteed bonus t hat could be spread over the final three years of his contract, Klein tweeted, citing a league source.

Ryan, who had the highest cap number in the NFL at $ 40.9 million, now has a cap number of $ 26.9 million.

After cutting veterans Ricardo Allen, Allen Bailey and James Car

penter, the Falcons will turn their attention to restructuring contracts and perhaps to granting contract extensions to create the additional space.

Strong safety Keanu Neal did not receive the franchise t ag and i s headed to f ree agency. Free safety Damontae Kazee’s agent told the AJC that he was moving on. Center Alex Mack is weighing his options, which possibly include retirement.

Kazee has drawn some interests from the Cowboys, who hired former Falcons coach Dan Quinn to be their defensive coordinator.

The Falcons are 18- 40 since Ryan signed his contract in May 2018. The Falcons went 7- 9, 7- 9 and 4- 12 because they struck out in the NFL draft and in free agency.

When Ryan signed his extension in 2018 it was the richest contract for a quarterback. More than a handful of deals have been signed since that surpass the former NFL MVP’S annual $ 30 million salary.

Recently, t he Cowboys signed Dak Prescott to a $ 160 million, four- year contract with $ 126 million guaranteed and an NFL- record $ 66 million signing bonus.

Ryan, who becomes a free agent in 2024, now falls to ninth on the list of top moneymakers.

With the reported changes, Falcons quarterback Matt Ryan’s salarycap number will be reduced from $ 40.9 million — which had been highest in the NFL — to $ 26.9 million.