The Falcons re-signed offensive tackle Kaleb McGary to a three-year, $34.5 million contract, according to a person familiar with the situation.

The move comes on the eve of the NFL’s free-agency period, which starts at 4 p.m. Wednesday with the beginning of the NFL’s new business year. McGary was set to be become an unrestricted free agent.

On March 7, the Falcons let the deadline pass to place the franchise tag on McGary, which would have paid him $18.2 million.

After McGary was not signed to his $13.6 million fifth-year option last offseason, he responded with his best NFL season. He helped to power the league’s third-best rushing attack but continued to struggle against elite pass rushers.

He had a grade of 86.6 by Pro Football Focus, but he gave up six sacks. He had failing grades of 54, 64.3 and 62.8 in his previous three seasons. He also gave up 13 sacks as a rookie, four in 2020 and nine in 2021.