The Indianapolis Colts are reportedly planning to release Matt Ryan after one year, according to NFL Network's Ian Rapoport. The move comes after he was benched for Sam Ehlinger and later Nick Foles during the season.
"I was individually and personally disappointed," Ryan said."As a player, as a competitor, you wanna be out there. You wanna go. It's part of the deal in this league. You gotta produce and you gotta go out there and play. Frustrated that we weren't able to do that in the first seven games. But you move forward. Life in this league is week-to-week and the production has to be there. Obviously, disappointed personally but here for the team.
By moving on from Ryan, the Colts incurred an $18 million dead money charge and saved $17 million in salary cap space. Tuesday, the Colts also reportedly agreed to trade Pro Bowl cornerback Stephon Gilmore to the Dallas Cowboys for a fifth-round compensatory pick for the 2023 NFL draft, according to NFL Network's Tom Pelissero.
Both of those moves combined saved the Colts $27.1 million against the 2023 salary cap. The team owns the No. 4 overall pick in next month's NFL Draft.
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