Falcons add $7 million in salary-cap space
Falcons general manager Thomas Dimitroff said the team is being creative with its salary cap and plans to find more room to add several players.
The team reportedly gained $7 million in cap space by converting $8.75 million of quarterback Matt Ryan’s base salary into a signing bonus, according to a person familiar with the situation.
Field Yates of ESPN reported the transaction first.
While Dimitroff wouldn’t address specific re-negotiations, he did explain the process of automatic conversions, which are options built into contracts to convert portions of a base salary into either a signing, training or roster bonus. There may be other players with similar conversion options.
“You have automatic conversions,” Dimitroff said before leaving from Georgia Tech’s Pro Day on Tuesday. “We’re in a good solid spot as much as it doesn’t look to the eye. “
He declined to speak about specific player’s contracts, but said the team planned to be creative in finding new salary-cap space.
The Falcons can add space by reaching deals with defensive tackle Grady Jarrett and wide receiver Julio Jones. Jarrett currently counts $15.2 million against the salary cap after receiving the team’s franchise tag.
With free agency set to start at 4 p.m. Wednesday, here’s a look at the Falcons’ situation.
The team has $5,679,182 under the $188.2 million salary cap, according to the NFLPA’s updated salary-cap report Monday.
The move with Ryan’s contract will put the Falcons at $12.6 million under the cap.
The team is interested in re-signing linebacker/defensive end Bruce Irvin, special-teamer Justin Bethel, tight end Logan Paulsen, linebacker Kemal Ishmael, safety Jordan Richards, wide receiver Justin Hardy and wide receiver Marvin Hall.
Dimitroff has said the team could also add an offensive lineman in free agency.
“We just have all of our high-price guys, and we have to be respectfully creative,” Dimitroff said. “I’ve seen some things written about being in a dire situation. We are not in a dire situation.”
#Falcons creating some salary cap space, confirmed by team didn’t want to get into the specifics. https://t.co/7Xn9xI9PpB
— D. Orlando Ledbetter (@DOrlandoAJC) March 12, 2019
About the Author
Honored by the Pro Football Hall of Fame in recognition of his "long and distinguished reporting in the field of pro football," D. Orlando Ledbetter, Esq. has covered the NFL 28 seasons. A graduate of Howard University, he's a winner of Georgia Sportswriter of the Year and three Associated Press Sports Editor awards.
