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According to multiple sources, Indianapolis Colts new starting quarterback Matt Ryan has reportedly restructured his contract since being acquired by the Horseshoe:
As part of the deal to acquire new QB Matt Ryan, the #Colts picked up his $7.5M roster bonus and added guarantees to the entirety of his 2-year deal that has nearly $54M left overall, source said.
— Ian Rapoport (@RapSheet) March 22, 2022
The #Colts are restructuring Matt Ryan’s contract, per @JFowlerESPN. This move provides Indy with more cap space to make some moves
— Colts Coverage (@Colts_Coverage) March 22, 2022
Currently, OverTheCap.com lists the Colts with a projected $15.9M of currently available team salary cap space, but that number looks like it should increase—as Indianapolis has guaranteed more of Ryan’s contract both in 2022 and 2023 (i.e., the remaining two years).
We’ll have to wait and see what the final numbers are though.
Update (2:48 PM EST):
Matt Ryan has agreed to add more guaranteed money on his contract and restructure his deal with #Colts, per @JFowlerESPN.
— Locked On Colts Podcast (@LockedOnColts) March 22, 2022
Ryan doing this opens up $11.8 million in cap space to use immediately. pic.twitter.com/bAXtN2Vsjs
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