The Indianapolis Colts were searching for their next quarterback after offloading Carson Wentz to the Washington Commanders earlier in the offseason. They had been linked to a few QBs, including Baker Mayfield and Jimmy Garoppolo, but they have now found their man to take over under center in Indy. According to Ian Rapoport, the Colts emerged Monday as the likely destination for Falcons quarterback Matt Ryan, and the deal is now done:
The Falcons were set to owe Ryan an additional $7.5 million roster bonus if he was on the roster past 4:00 p.m. ET on Monday. Atlanta thought it was going to get Deshaun Watson in a trade, but he wound up going to the Cleveland Browns. While the Falcons could have just kept Ryan, they decided to move on.
Pat McAfee first reported Ryan will be dealt in exchange for a third-round pick:
BREAKING: Matt Ryan to the Indianapolis Colts is ALL BUT DONE, my source(s) are saying it's for a 3rd rounder#PMSLive pic.twitter.com/gxW1OoI9W7
— Pat McAfee (@PatMcAfeeShow) March 21, 2022
Here are more details:
The Colts traded pick No. 82, their original pick, for Ryan, a source says. So the third-rounder they keep is No. 73 from Washington.
— Joel A. Erickson (@JoelAErickson) March 21, 2022
Ryan is under contract through the 2023 season, so he'd have two years in Indy. His dead cap value becomes far more manageable after this season, meaning Indy could reasonably cut ties with him next offseason without significant cap impact.
The Colts had been linked to all three of Mayfield, Garoppolo, and Ryan in recent weeks. Despite all of those QBs remaining available for trade, it seems Indy was keen on landing the most veteran of the group, and the only former MVP winner. Ryan will have a chance to rebound and end his career on a strong note in Indy after a rough past few seasons in Atlanta.
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