The Indianapolis Colts converted $12 million of Matt Ryan’s 2022 contract into a signing bonus, clearing $6 million in cap space.
Ryan was recently acquired by the Colts after spending 14 seasons with the Atlanta Falcons.
The 36-year-old will earn $18,705,882 this upcoming season from originally signing a five-year, $150 million contract extension signed in 2018 with Atlanta.
With the move, Indianapolis will search for more pieces to build around Ryan and running back Jonathan Taylor.
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