Falcons Open $20 Million in Cap Space with Contract Restructures

The Atlanta Falcons spent much of the final two months of the 2024 NFL league year on the wrong side of the salary cap limit, but amid veteran cuts, contract extensions and restructures, Atlanta finds itself nearly $12 million above the cap over two weeks into the 2025 league calendar.

Atlanta previously announced its two-year, $45 million extension with starting left tackle and franchise staple Jake Matthews, a move that freed $8.5 million in cap space. But the Falcons processed two more under-the-radar contract decisions to create additional space.

The Falcons restructured the contracts of cornerback A.J. Terrell and right guard Chris Lindstrom, converting their salary into bonuses and opening $10 million apiece for a $20 million gain. Salary cap-based website Spotrac first reported the news. Atlanta has not confirmed the restructures, but the numbers are reflected across salary cap outlets.

According to OverTheCap, the Falcons need $7.6 million to sign their draft class with their current pick allotment. In essence, even with its expanded cap space, Atlanta can't afford to throw out significant money on the open market.

Terrell signed a four-year, $81 million contract extension in August 2024 and delivered on the organization's faith, starting all 17 games and snapping a two-year interception drought with a pair of takeaways.

Falcons head coach Raheem Morris, who was Atlanta's defensive coordinator when it drafted Terrell at No. 16 overall in 2020, spoke highly of the 2021 second-team All-Pro toward the end of the 2024 season.

"You can put A.J. on just about anybody and just look the other way, and that's who he is," Morris said Dec. 23. "When he got here as a rookie to right now, there's no questions asked. What do you want me to do? Where do you want me to go? Who do you want me to cover?

"There's not very many people like that. A.J. Terrell fits right into that cloth of great corner you were fortunate enough to coach that can just go cover anybody with no regard or no care in the world."

Lindstrom, meanwhile, earned second-team All-Pro and Pro Bowl honors for the third consecutive season. He signed a five-year deal worth up to $102.5 million in the spring of 2023. His contract was also restructured in August 2024.

Falcons offensive coordinator Zac Robinson raved about Lindstrom after his Pro Bowl nod this past season, citing his football character and the way he handles business on and off the field.

"That's exactly what you want it to look like from a process, preparation standpoint -- the stuff you don't see on the practice field, on the game field," Robinson said Jan. 2. "All the things he does to get himself ready for that is exactly what you want in an NFL player. And then the overall grit, toughness, plays each snap like it's his last play.

"I've never been around a guy that plays that hard every single snap. It's really cool. And then obviously just the talent, the ability to get out of his stance, how quick he is when the ball is snapped."