Matt Ryan contract: Colts obligated to pay QB millions despite being cut
Matt Ryan's stint as an Indianapolis Colt is over just one year into his stay. On the second day of the NFL's legal tampering period where players are getting contracts with new teams, Ryan lost his.
According to the NFL Network's Ian Rapoport, the Colts will have to pay the veteran quarterback $12 million regardless of what Ryan chooses to do with his future.
As part of the #Colts trade to acquire QB Matt Ryan, his agent negotiated a new contract that included a $12M guarantee in 2023 that was not in his previous contract. Ryan remains entitled to the $12M regardless of what he decides to do this season. Amazing.
So, the Colts will reportedly release the veteran quarterback and will still have to pay him a handsome sum of money. Ryan's agent clearly worked wonders with his deal, and he will get paid regardless.
After a poor year, the Colts are moving on and cutting their losses. Holding the fourth pick, Indianapolis is likely to select a quarterback in the upcoming draft and thus wanted Matt Ryan out.
The fact that the Colts are fine with eating that $12 million to cut Ryan shows that they are fine with the decision to cut him.
Given that the quarterback is 37 years old, it does make some wonder if his days as a starting quarterback in the NFL are over, or even his career could be over with this latest move.
Matt Ryan cut by Colts after horror season
Signed after the Colts moved on from Carson Wentz, there was a thought that Ryan was going to be the veteran quarterback that the Colts needed.
It didn't turn out that way. He had a year to forget.
Matt Ryan finished with a 4-7-1 record, 3,057 passing yards (lowest since 2009), 14 touchdowns (career low) and 13 interceptions and was benched during the season.
Now, he has the tough task of trying to get on another roster, and that may prove difficult. Would he be content with being a backup for a contending team on a minimum salary?
Or does he still harbor the intention of being a starting quarterback in the NFL? Those are questions that will need to be answered over the coming weeks, but it seems unlikely that a team will pay him to be a starting quarterback.