There are no more moving targets for the Falcons after the NFL set the salary cap for the 2021 season.
The salary cap will be $182.5 million, the league announced on NFL Media. That amount is down from $198.2 million last year. The decrease was because of the loss of revenue within the league from the coronavirus pandemic of 2020.
The Falcons currently are at $196.7 million and need to cut $14.2 million before the league’s new year starts March 17, according to NFLPA documents.
“Salary cap, we are working through that,” Falcons coach Arthur Smith told the AJC recently. “There are different ways to get under the salary cap. We want to do it the right way ... not to hurt us in the future.”
Quarterback Matt Ryan ($40.9 million) and wide receiver Julio Jones ($23 million) have the biggest cap numbers on the team. But the team has re-worked Ryan’s contract three times and Jones’ once.
“I know sometimes there are somethings that you have to make year-to-year,” Smith said. “But we have to take care of the salary cap first, and we feel real good about our plan going into free agency.”
The Falcons knew the reduction was coming, but could not set their plan fully into action without knowing the actual number.
The Falcons have cut three veterans in safety Ricardo Allen ($6.25 million), defensive end Allen Bailey ($4.5 million) and =guard James Carpenter ($4 million) to get closer to the cap. The total cap savings was $14.75 million for 2021.
The Falcons can cut the rest of the cap money by renegotiating the current contracts of defensive tackle Grady Jarrett, left tackle Jake Matthews and linebacker Deion Jones. Jarrett has only two years left on his deal and is a candidate for an extension.
Also, 2020 free-agent signee Dante Fowler could be approached for a salary reduction and be given a revised incentive-laden deal. It would be too costly of a cap hit to cut Fowler. He signed a three-year, $48 million deal with the Falcons just last year.
Only five other teams have less money than the Falcons. The Rams ($33.1 million), the Saints ($31.9 million), Eagles ($26.8 million), Chiefs ($20.9 million) and the Bears ($17.5 million) also are over the salary cap.
The Falcons have no money and only 39 players on the roster.
“We obviously have to add players,” Smith said. " How we’ll do that is through free agency and the draft. I don’t think you ever stop looking to add. You may even end up churning the roster when things happen through training camp. (Veterans) get released, you have to be able to take a look at them.”
When free agency starts, the Falcons will be bargain-basement to value shoppers at best.
“So, you have to have a couple of contingency plans,” Smith said. “Understanding where we are at with the salary cap, some teams have tons of money to spend, and the first couple of days kind of feel like signing day.
“That may not necessarily be our approach unless something magical happens. Things have happened in the past, so it’s not out of the question. ... Try to get good value for guys that are out there and that fit what you want to do and they fit character-wise.”
Falcons’ 2021 draft position: Here are the picks in D. Led’s Mock Draft 2.0: Top five picks
1. Jacksonville Jaguars: Trevor Lawrence (QB, Clemson)
2. New York Jets: Justin Fields, (QB, Ohio State)
3. Miami Dolphins: Ja’Marr Chase (WR, LSU)
4. Falcons: Kyle Pitts (TE, Florida)
5. Cincinnati Bengals: Penei Sewell, (OT, Oregon)
The Bow Tie Chronicles Podcasts:
For more content about the Atlanta Falcons
Follow me on Twitter @DorlandoAJC
On Facebook at Atlanta Falcons News Now
