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Falcons, Ryan Agree On 5-year Contract Extension Worth $103.75M

Matt Ryan. (Photo by Sam Greenwood/Getty Images)

Matt Ryan. (Photo by Sam Greenwood/Getty Images)

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FLOWERY BRANCH, Ga. (AP) — Pro Bowl quarterback Matt Ryan and the Atlanta Falcons have agreed to terms on a five-year contract extension.

Falcons spokesman Reggie Roberts said Thursday that the deal was being finalized as Ryan led the offense through practice Thursday on the first day of training camp.

A person familiar with the situation says Ryan’s extension is for $103.75 million deal, with $59 million guaranteed. The person says Ryan will average $20.75 million during the first three years of the extension. The person spoke to The Associated Press on condition of anonymity because the terms of the deal had not been announced.

Ryan, 28, is entering the sixth and final season of his original rookie contract and will earn a $10 million salary.

The Falcons scheduled a news conference for Thursday evening with Ryan, owner Arthur Blank, general manager Thomas Dimitroff and coach Mike Smith.

Ryan, the NFL’s No. 3 overall draft pick of 2008, last season was invited to the Pro Bowl for the second time. He completed 68.6 percent of his passes, tops in the NFL.

Ryan rallied Atlanta to victory six times last season, giving him 22 career game-winning drives in the fourth quarter or overtime — most in the league since he was named the league’s offensive rookie of the year in 2008.

The quarterback is 56-22 in his NFL career, but dropped to 1-4 in the playoffs after the Falcons lost the NFC title game at home to San Francisco six months ago.

Ryan’s agent, Tom Condon, also represents Drew Brees and Peyton Manning — veteran NFL quarterbacks who signed big contracts last year. The New Orleans Saints guaranteed Brees $60.5 million and the Denver Broncos guaranteed Manning $58 million.

Baltimore quarterback Joe Flacco, who led the Ravens to a Super Bowl title in February, signed the richest contract in league history, a six-year deal worth $120.6 million that guarantees $52 million.

Flacco had leverage for a better contract because he was eligible to become an unrestricted free agent.

(© 2013 by STATS LLC and Associated Press. Any commercial use or distribution without the express written consent of STATS LLC and Associated Press is strictly prohibited.)