Falcons restructure Jake Matthews’ contract, create room under the cap

The Falcons, who are trying to get under the $182.5 million salary cap by the start of the NFL’s business year at 4 p.m. Wednesday, have restructured offensive tackle Jake Matthews contract, according to a person with knowledge of the situation.

The parties agreed to convert his $13 million base salary for 2021 into a signing bonus. By making it a signing bonus, the $13 million can be spread over the final three years of his contract and reduce his salary-cap number from $20.8 million to $11.6 million this season. Matthews’ cap number for 2022 increased to $21.8 and to $20.5 in 2023.

Before the Matthews restructure, the Falcons were $14.2 million over the salary cap.