USAT: Colts Wire audio clip

USAT: Colts Wire

Mar 24, 2022

- - - The Indianapolis Colts converted a portion of quarterback Matt Ryan’s salary into a signing bonus on Thursday, which created $6 million in salary-cap space, per Field Yates of ESPN. - A move like this was to be expected after the Colts sent a third-round pick to the Falcons in exchange for Ryan and the remainder of his two-year contract. - Ryan was set to make just over $24.7 million in 2022, and the Colts converted $12 million of it into a signing bonus. Since that prorates over the next two seasons against the cap, the Colts save $6 million for this offseason. - - The Colts have converted $12M of new QB Matt Ryan’s 2022 compensation into a signing bonus, creating $6M in cap space, per source. - Ryan’s cap number drops to $18,705,882 for this year, while Indy has even more cap space to make other maneuvers this offseason. - — Field Yates (@FieldYates) March 24, 2022 - - - While this lowers the cap hit for Ryan down to $18.7 million for the 2022 season, that extra $6 million that gets tacked on in 2023 raises his cap hit for that season to $35.2 million, according to Over The Cap. - That could explain why they didn’t convert the entire $17 million of his base salary, which would have helped this offseason but created an even larger cap hit in 2023. - With this new restructure, the Colts now have roughly $21 million in salary-cap space, which is the eighth-most in the NFL. - The Colts could still restructure a few other contracts if they really wanted to but the expectation is likely that they will make subtle moves in free agency leading up to the draft. - - Like Colts Wire on Facebook - Follow Colts Wire on Twitter - Follow Kevin on Twitter (@KevinHickey11) - - RelatedFalcons wanted 'to do right by' Matt Ryan in trade to ColtsChris Ballard gives no comment on Colts' potential Deshaun Watson interestOdell Beckham Jr.: Colts can be special with Matt Ryan - - List - - How Twitter reacted to the Colts' trading for Matt Ryan - - - - - - - - - - - - - - - - - - Email - - - - - Sign up - - - - - - - - Like this article? - Sign up for the Colts Wire email newsletter to get our top stories in your inbox every morning - - - - An error has occured - - - Please re-enter your email address. - - - - - - Thanks for signing up! - - - You'll now receive the top Colts Wire stories each day directly in your inbox.

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Mar 15, 2022