Falcons trade Matt Ryan to Colts for 3rd-round pick

The Indianapolis Colts acquired quarterback Matt Ryan from the Atlanta Falcons in exchange for a 2022 third-round pick, the team announced Monday.

Ryan currently has two years remaining on his deal. If the 2016 MVP wasn't dealt prior to 4 p.m. ET, he would have collected a $7.5-million roster bonus that was pushed back from Friday to help facilitate the Falcons' attempt to land Deshaun Watson.

Atlanta will save $9 million against the salary cap but incur a dead cap hit of $40.5 million, according to Over the Cap. Ryan signed a five-year, $150-million extension with the Falcons in 2018.

The Colts find their quarterback after trading Carson Wentz to the Washington Commanders along with a 2022 second-round pick and 2022 seventh-rounder for a 2022 second-rounder, a 2022 third-rounder, and a 2023 third-rounder that can become a second-round pick.

The third-rounder the Colts sent to the Falcons is their original pick (No. 82 overall), a source told ESPN's Dan Graziano.

The Seattle Seahawks were among other interested suitors for Ryan this offseason after sending Russell Wilson to the Denver Broncos earlier this month.

Ryan's departure ends a 14-year relationship with the Falcons that began when the franchise drafted him third overall in 2008.

The four-time Pro Bowler is the Falcons' all-time leader in passing yards (59,735) and touchdowns (367) and leaves with a 120-102 record as a starter. Ryan recorded his best season in 2016, passing for a career-best 4,944 yards and 38 touchdowns while leading Atlanta to Super Bowl LI.

The Falcons signed free-agent quarterback Marcus Mariota to a two-year deal shortly after trading Ryan.