Falcons restructure Jake Matthews’ contract

Left tackle Jake Matthews is signed through the 2023 season and that offered the Falcons a way to clear cap space for the 2021 season.

D. Orlando Ledbetter of the Atlanta Journal-Constitution reports that the Falcons have restructured Matthews’ deal. They did so by converting much of his $13 million base salary for the 2021 season into a signing bonus that can be spread out over the life of the deal.

The exact cap savings was not part of the report, but moving Matthews’ salary all the way down to the league minimum would create more than $7 million in savings for Atlanta.

The Falcons released safety Ricardo Allen and defensive end Allen Bailey in other cap-cutting moves and still have some work to do to get under the cap in time for Wednesday’s start to the new league year.