The Atlanta Falcons just made quarterback Matt Ryan a very wealthy man.
The Falcons and Ryan have agreed to a five-year, $103.75 million contract extension, $59 million of which is guaranteed, the team announced Thursday. His guaranteed money now trails only rival NFC South quarterback Drew Brees, who is making $60 million after signing an extension in 2012.
Ryan’s contract works out to an annual average salary of $20.75 million, but he will make $63 million during the first three years, according to ESPN’s Chris Mortensen.
The former Boston College quarterback is coming off the best season of his career with Atlanta. He threw for 4,719 yards and 32 touchdowns with 14 interceptions and a passer rating of 99.1, leading the Falcons to the NFC Championship Game where they lost to the 49ers.
The Falcons selected Ryan with the No. 3 overall pick in the 2008 NFL draft, and if he stays for the duration of this contract extension, he will be the franchise quarterback at least until he is 32 years old. Atlanta has had five straight winning seasons with Ryan under center and has made the postseason four times.