Falcons agree to trade Matt Ryan to the Colts

The Falcons wanted four extra days in the event they traded for Deshaun Watson. They didn’t. And they still traded away Matt Ryan.

Per multiple reports, the Falcons have sent long-time quarterback Matt Ryan to the Colts for a third-round pick.

The Falcons will take a $40.525 million cap charge for trading Ryan. That’s less than the $48.66 million cap charge that would have applied to him, if he’d stayed.

Just 10 days ago, NFL Media reported that the Falcons and Ryan had agreed to a restructuring that would have lowered his cap charge by $12 million. However, the cap charge for trading him before June 1 would have shot above $55 million. That deal was never done, as the Falcons pivoted first to the idea of getting Watson and then to the reality of getting rid of Ryan.

Ryan agreed on Thursday to defer his roster bonus by four days. We wondered whether the quid pro quo was to trade him even if they don’t get Watson. After 14 loyal years from Ryan, the Falcons showed disloyalty to Ryan. Ryan had every right — after never showing any inclination to leave Atlanta — to ask for a one-way ticket out of town.

In Indianapolis, Ryan will earn $23.75 million in 2022 and $28 million in 2023, barring a new deal. He’s due to be a free agent in 2024.