The Falcons made the decision to move on from Matt Ryan during the 2022 NFL offseason. Atlanta traded its quarterback of 14 years to the Colts in exchange for a 2022 third-round draft pick.
Many assumed that the Falcons' decision was tied directly to their pursuit of Deshaun Watson. Atlanta was among the teams in on the embattled Texans quarterback before he was traded to the Browns.
However, Falcons general manager Terry Fontenot insisted Wednesday that the team's decision to send Ryan to Indianapolis had nothing to do with its pursuit of Watson. It was something the Falcons had been considering all offseason.
"Whether we began to explore Deshaun or not, we were already starting to discuss trading Matt this offseason," Fontenot told reporters, per Kelly Price of Fox 5 Sports.
MORE: Grading the Matt Ryan trade for the Colts, Falcons
The trade wasn't born of tension between the two sides. According to Falcons coach Arthur Smith, the two sides mutually decided that it would be best for each to move on.
"It was very amicable," Smith said of the split, per Josh Kendall of The Athletic, "and we feel like it was a win for both sides, for us long-term and Matt right now."
Ryan seemed to echo the sentiment. He had nothing but love for Atlanta in a thank you letter he released to the city on Wednesday.
Thank you, Atlanta.
— Matt Ryan (@M_Ryan02) March 23, 2022
- Matt, Sarah, Marshall and Johnny pic.twitter.com/hl0sE1o7A8
Why and how did the two sides reach this agreement? Here's what the Falcons' leadership said about their decision to trade Matt Ryan.
MORE: Why the Matt Ryan trade could mimic the Colts signing Philip Rivers
Why the Falcons traded Matt Ryan
The logic behind the Falcons' trade was simple. Ryan turned 37 in May, and Atlanta isn't poised to be a contender in 2022; that's even despite a 2-2 record along with the weakened state of the NFC. The Falcons simply have too many holes on their roster and since Ryan was set to have a massive $49.5 million cap hit, they didn't have the resources needed to fill them.
As such, the Falcons opted to go for a mini-rebuild (though Fontenot isn't a fan of that word). They are eating $40.5 million in dead cap space by trading Ryan, but as coach Arthur Smith pointed out, the decision to part with Ryan will give them plenty of extra resources in future seasons.
"It opens up a lot of [salary cap] space in ‘23 so we don’t have to keep playing this game of restructures and minimum deals," Smith said of the Ryan trade, per Josh Kendall of The Athletic. "Part of the compensation is what it opens up in the future for us."
Indeed, the Falcons are set to have a lot of cap space in 2023 — $54.1 million to be exact, per OverTheCap.com. That will position them to be buyers during that offseason and will allow them to fill whichever holes remain on their roster following the 2022 season.
The third-round pick also helped Atlanta to add talent. They selected edge rusher DeAngelo Malone with the pick and he is a strong special teams player now who could turn into a solid sack artist in later seasons.
Even if the compensation wasn't as much as many thought the team would get for Ryan, the Falcons still believed the trade was worthwhile. As Fontenot explained, the Falcons were willing to take lower-level compensation to trade Ryan to the Colts.
"It was more important to us to do right by Matt than to try to maximize compensation," Fontenot said. "We could have probably traded Matt to somewhere he didn’t want to be and gotten more. We said, ‘If we’re going to go down this road, we want to do right by Matt.'"
In the end, they did. That gave Ryan a chance to compete for a playoff spot in the AFC South while the Falcons can see whether Marcus Mariota or Desmond Ridder can adequately replace him at quarterback.
How the Falcons addressed the quarterback position
Rather than spend a first-round pick on a replacement for Ryan, Atlanta took a measured approach. It signed a veteran free-agent starter to compete for the job and later drafted a Day 2 player with upside to compete for the job.
Shortly after agreeing to trade Ryan, Atlanta signed Marcus Mariota to a two-year contract. The 28-year-old quarterback was the No. 2 overall pick in the 2015 NFL Draft and has experience playing for Arthur Smith.
Mariota has been a backup since being benched in favor of Ryan Tannehill during the 2019 season. That said, Mariota threw for 26 touchdowns and just nine interceptions in 2016, and Smith believes that he will be a good stopgap option for the team, bare minimum.
"I trust Marcus," Smith said, per The Athletic. "He’s going to come in here and give us everything we’ve got."
So far, Mariota has led the Falcons to a 2-2 record while completing 58.2 percent of his passes for 779 yards, three touchdowns and four interceptions. He has also run for 95 yards and two touchdowns.
Of course, the Falcons always planned on bringing in competition for Mariota during the 2022 NFL Draft. Fontenot explained as much after the team traded Ryan.
"We’re going to add to the position," Fontenot said. "It could be in the draft. It could be in free agency. It could be in a trade. We’re going to dig into this class, but we’re not going to feel pressured to do anything."
Ultimately, Ridder ended up being the pick. He hasn't gotten a chance to play for the Falcons in the regular season just yet, but he flashed at times during the preseason.
All the while, Ryan has struggled with turnovers and sacks in Indianapolis. So, even though the Falcons gave the Colts a sweetheart deal, it looks like one that they can still win.
