Report: Colts To Release Matt Ryan After One Season

The Indianapolis Colts are set to release quarterback Matt Ryan, NFL Network's Ian Rapoport reported on Tuesday.

The move comes after the four-time Pro Bowler spent one season with the club after being traded from the Atlanta Falcons last off season.

As part of the #Colts trade to acquire QB Matt Ryan, his agent negotiated a new contract that included a $12M guarantee in 2023 that was not in his previous contract. Ryan remains entitled to the $12M regardless of what he decides to do this season. Amazing.
— Ian Rapoport (@RapSheet) March 14, 2023

With the Colts, Ryan threw for 3,057 yards and 14 touchdowns and executed 13 interceptions. The team went 4-7-1 in the games the 37-year-old signal caller started in.

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Whether Ryan actually decides to play or retire is unknown, but he is entitled to $12 million -- part of his contract with the Colts in 2023 -- no matter which way he decides to go.

Releasing Ryan and trading CB Stephon Gilmore will save the Colts $27.1 million in cap space for the season.