Atlanta Falcons trade Matt Ryan to Indianapolis Colts

The Atlanta Falcons traded longtime starting quarterback Matt Ryan to the Indianapolis Colts for a third round pick Monday afternoon. The move by the Falcons was brought about March 16th when Atlanta attempted to secure the formerly-exiled Houston Texans quarterback, Deshaun Watson. Watson considered waiving his no-trade clause to join the Falcons. However, Watson later signed a five-year, $230 million contract with the Cleveland Browns on March 18th. 

“Matt Ryan has been the epitome of a franchise quarterback during his time here in Atlanta,” Falcons owner Arthur M. Blank said in a statement. “He has represented this organization with great class, professionalism and leadership, both on and off the field, over the past 14 years. It is difficult to overstate what he has meant to me personally, our organization, his teammates and our fans.”

Before the Matt Ryan trade, the Falcons had $71,282 in cap space, according to Over The Cap. The trade saves the Falcons roughly $9 million in cap space, but also forces Atlanta to carry over $40 million in dead cap money for the 2022 season.

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