I don’t think Flacco needs to be too concerned over car payments now.
With much of the details of Joe Flacco’s new record-breaking $120.6 million contract being released on Sunday night, we now have a blueprint for what Matt Ryan’s new deal will look like. The only real question is at what point does Ryan sign on the dotted line.
I wrote earlier that I figured that Ryan would be signed sometime this summer because I did not expect Flacco’s deal to get done so quickly. Kudos to Ozzie Newsome & Co. for speeding up the process. The Ravens have a number of good free agents that they need to re-sign this off-season, and avoiding the monster $20 million franchise tag that Flacco would have incurred should allow them to keep many of them. Now, Flacco’s cap hit in 2013 is reportedly around $6.8 million, essentially freeing up $13 million in cap space.
When the Ryan deal gets done, it’s likely that the Falcons will also reap cap benefits, although I’m not sure as much. Ryan is set to count $12 million against this year’s salary cap, but I would expect the first year cap hit of his new deal to be in the ballpark of Flacco, which probably means somewhere around $5-6 million savings.
The interesting things about Flacco’s deal are the payouts in Year 1 ($30 million), Year 2 ($51 million) and Year 3 ($62 million). The latter two figures exceed that of Drew Brees, although Brees was paid $40 million in the first year of his new deal. $52 million of Flacco’s contract is guaranteed, while the number was reportedly $60 million for Brees. Remember, Brees is represented by Tom Condon, who also represents Matt Ryan. It’s in Condon’s best interest to try and reclaim the biggest contract awarded to a quarterback, although that clearly may not be in the Falcons’ best interest. So likely a middle ground will need to be reached. And that could take time. Which makes me believe that we will see Ryan comes to terms later rather than sooner. It may not last until July at this point, but I’m not optimistic that a deal will get done before March 12, when those cap savings could be very beneficial to the Falcons as they shop for new players.
As of Friday, reports were that the Falcons had yet to engage in serious talks with Ryan.
The other news that the Falcons made on Friday was the release of three veterans in John Abraham, Dunta Robinson, and Michael Turner. The Turner move was expected, and was a long time coming. I was not convinced the Falcons would dump Dunta, as it leaves a pretty large hole at cornerback. Instead, I expected the Falcons to restructure Dunta’s deal to have him return in 2013 at a more cap-friendly price. Abraham was the surprise move, as it had been hinted at but I don’t think anybody expected the Falcons to actually part ways with him. Abraham was the team’s entire pass rush practically, and the team has already proclaimed that improving there will be an off-season priority. So on Friday, the Falcons essentially took a step back in order to take several steps forward.
I really don’t know what the Falcons “plan’ is going forward. I suspect they will be targeting pass rushers early in the draft, but does it mean that they will also be looking for free agents to sign?