Compensation update: Colts sending a 3rd-round pick to Atlanta in exchange for Matt Ryan.
Indy, remember, picked up two 3rds — one of which can become a 2nd — in the Carson Wentz trade two weeks ago.
— Zak Keefer (@zkeefer) March 21, 2022
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The Eagles will indeed face the Colts in 2022, but instead of Carson Wentz under center, it’ll now be Matt Ryan.
Hours before a $7.5 million bonus was to be paid, Atlanta trades their franchise quarterback to the Colts for draft picks.
The Falcons will carry a $40 million dead cap hit with the trade, and could look towards the draft or free agency for a replacement.
Indianapolis will now move forward with Ryan under center after trading Carson Wentz to the Commanders.
Ryan will become the fifth starting quarterback to start for Colts head coach Frank Reich five years.
The 36-year-old threw for 3,968 yards in 2021, the first time the former Boston College star and Philadelphia area native has passed for less than 4,000-yards in a season since 2011.