The Atlanta Falcons are fewer than $6 million over the 2021 salary cap of $182.5 million after restructuring the contract of left tackle Jake Matthews on Friday morning.
Matthews agreed to convert his $13 million base salary into a signing bonus and that cap hit will be spread out over the final three years of his contract.
Matthews' salary cap hit is now just $14.2 million, down from the previous hit of $20.8 million, and the Falcons are now just $5.6 million over the cap.
While it seems unlikely that Matt Ryan will be restructuring his contract, the Falcons could work with either Deion Jones, Grady Jarrett, or both to further drop their salary cap number and get under the 2021 limit.