Matt Ryan Traded to Colts from Falcons for 2022 3rd-Round NFL Draft Pick

AP Photo/Jed Jacobsohn

The Indianapolis Colts acquired Matt Ryan from the Atlanta Falcons on Monday in return for a 2022 third-round draft pick.

NFL Network‘s Tom Pelissero, Ian Rapoport and Mike Garafolo first reported the deal.

The Falcons haven’t torn their roster down to the studs, but they’ve missed the playoffs for four straight seasons. That led many to argue the franchise needed to move on from Ryan, who turns 37 on May 17.

At issue for the front office were the financial implications of trading away the four-time Pro Bowler. This move will save the Falcons $8.1 million but adds $40.5 million in dead money to their 2022 salary cap.

Following the Ryan trade, Atlanta signed veteran Marcus Mariota to a two-year contract. Mariota and head coach Arthur Smith worked together with the Tennessee Titans. The 28-year-old threw for 13,207 yards, 76 touchdowns and 44 interceptions in 63 games with Tennessee.

After passing on Justin Fields and Mac Jones last year, this trade could provide the impetus for general manager Terry Fontenot to target a long-term successor to Ryan in the draft. 

That route isn’t without risk, however, given the paucity of standout prospects at QB. Cincinnati’s Desmond Ridder and Liberty’s Malik Willis were the only two signal-callers to crack the top 50 of Bleacher Report’s big board.

By signing Mariota, the Falcons might be trying to buy themselves time before surveying the quarterback landscape more seriously next year.

For the Colts, a trade for an experienced QB was inevitable after they shipped Carson Wentz to the Washington Commanders. Indianapolis wasn’t going to roll the dice with Sam Ehlinger or one of the rookies from the 2022 draft class.

Ryan is no longer the player who won an MVP in 2016, but remained a steady producer in 2022. He threw for 3,968 yards, 20 touchdowns and 12 interceptions while completing 67 percent of his passes.

The Colts won 11 games and reached the playoffs in 2020 while leaning on a 39-year-old Philip Rivers under center. Indianapolis’ supporting cast is good enough that an elite quarterback isn’t required to clinch a postseason berth.

The danger for general manager Chris Ballard is that Ryan’s QBR has declined each year since he won MVP, hitting a career-low 46.1 in 2021, per Pro Football Reference. If Ryan’s skills continue to diminish, then this trade could backfire.

There’s also the fact that the Colts’ quarterback turnover in recent years isn’t sustainable.