Falcons trade QB Matt Ryan to Colts for '22 third-round pick

The Falcons are trading QB Matt Ryan to the Colts in exchange for a ‘22 third-round pick after 14 seasons with the franchise, per NFL.com’s Ian Rapoport.

Ryan, 36, has two years remaining on his deal and is due a $7.5M roster bonus at 4 p.m. ET today. This is the fifth starting QB for the Colts in head coach Frank Reich’s tenure. The Falcons will have a dead cap hit of $40.525M on their salary cap this season from the move.

Ryan became a trade target after Browns QB Deshaun Watson was taken off the QB market. The former league MVP has a lot of football left to play and found himself in an excellent position with a team that just needs a quality starter to get them over the hump.