Falcons, Ryan agree to record five-year, $150M contract

Matt Ryan is set to become the highest-paid player in the NFL.

Ryan and the Atlanta Falcons agreed to a five-year, $150 million contract, establishing a new standard for top-paid NFL quarterbacks at $30 million per season.

"Matt is getting what he has earned and we all know the marketplace for a great quarterback," Falcons owner Arthur Blank said. "League revenues are up, club revenues are up, new stadiums and the players are the heart of the game."

General manager Thomas Dimitroff felt the team was close to a new deal with Ryan as the NFL draft ended last week but would only summarize the negotiations as being "on the right path."

"I'm excited to be here that's the biggest thing and I think all of those things will take care of itself," Ryan said of the state of talks at the start of the Falcons' offseason workout program.

13 PHOTOS
The 13 teams that have never won a Super Bowl
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The 13 teams that have never won a Super Bowl

Cincinnati Bengals

Super Bowl appearances: XVI and XXIII

(Photo by Ian Johnson/Icon Sportswire via Getty Images)

Buffalo Bills

Super Bowl appearances: XXV, XXVI, XXVII and XXVIII

(Photo by Brett Carlsen/Getty Images) 

Cleveland Browns

Super Bowl appearances: none

(Photo by Justin K. Aller/Getty Images)

Arizona Cardinals

Super Bowl appearances: XLIII

(Photo by Kevin Abele/Icon Sportswire via Getty Images)

Los Angeles Chargers

Super Bowl appearances: XXIX

(Photo via REUTERS/Danny Moloshok)

Atlanta Falcons

Super Bowl appearances: XXXIII and LI

(Photo by Stephen Lew/Icon Sportswire via Getty Images)

Jacksonville Jaguars

Super Bowl appearances: none

(Photo by Don Juan Moore/Getty Images)

Detroit Lions

Super Bowl appearances: none

(Photo by Patrick Gorski/Icon Sportswire via Getty Images)

Carolina Panthers

Super Bowl appearances: XXXVIII and 50

(Photo by Grant Halverson/Getty Images)

Houston Texans

Super Bowl appearances: none

(Photo by Thomas B. Shea/Getty Images)

Tennessee Titans

Super Bowl appearances: XXXIV

(Photo by Scott Winters/Icon Sportswire via Getty Images)

Minnesota Vikings

Super Bowl appearances: IV, VIII, IX and XI

(Photo by Wesley Hitt/Getty Images)

Philadelphia Eagles

Super Bowl appearances: XV and XXXIX

(Photo by Mitchell Leff/Getty Images)

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Of the $150 million potential total value of Ryan's contract, $100 million is guaranteed, according to ESPN's Chris Mortensen. The deal exceeds what the Minnesota Vikings gave free agent Kirk Cousins -- three years, $84 million, fully guaranteed. In the final year of Cousins' contract, 2020, he is set to make $29.5 million as a base salary and $500,000 in the form of a workout bonus, which would put him even with Ryan. Cousins can max out at $90 million over three years with incentives.

Jimmy Garoppolo signed a five-year, $137.5 million contract with the San Francisco 49ers with $74.1 million guaranteed and an average annual value of $27.5 million. Garoppolo can return to free agency after the 2020 season at age 28 having earned $86.4 million in three full seasons with the 49ers.

Aaron Rodgers of the Green Bay Packers is likely next in line for a massive payday.

Ryan, 32, was the third overall pick in the 2008 draft.

Ryan has 41,796 passing yards and led the Falcons to the Super Bowl during his MVP season of 2017. He has 260 touchdowns and 126 interceptions while completing nearly 65 percent of his passes in his career and owns the franchise record in nearly every major career passing category.

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Big moments from Super Bowl LI
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Big moments from Super Bowl LI
Former U.S. President George H.W. Bush participates in the coin toss ahead of the start of Super Bowl LI between the New England Patriots and the Atlanta Falcons as former first lady Barbara Bush looks on in Houston , Texas, U.S., February 5, 2017. REUTERS/Adrees Latif TPX IMAGES OF THE DAY
Country Singer Luke Bryan waves before performing the U.S. National Anthem prior to the the start of Super Bowl LI between the New England Patriots and the Atlanta Falcons in Houston, Texas, U.S., February 5, 2017. REUTERS/Adrees Latif
HOUSTON, TX - FEBRUARY 05: Philip Wheeler #41 of the Atlanta Falcons reacts after a fumble by the New England Patriots in the second quarter during Super Bowl 51 at NRG Stadium on February 5, 2017 in Houston, Texas. (Photo by Gregory Shamus/Getty Images)
Feb 5, 2017; Houston, TX, USA; Atlanta Falcons cornerback Jalen Collins (32) tackles New England Patriots wide receiver Chris Hogan (15) during the first quarter during Super Bowl LI at NRG Stadium. Mandatory Credit: Dan Powers-USA TODAY Sports
Atlanta Falcons' Deion Jones celebrates after New England Patriots' quarterback Tom Brady was sacked during the first quarter of Super Bowl LI in Houston, Texas, U.S., February 5, 2017. REUTERS/Adrees Latif
Feb 5, 2017; Houston, TX, USA; Atlanta Falcons quarterback Matt Ryan (2) runs the ball against New England Patriots defensive end Alan Branch (97) during the first quarter during Super Bowl LI at NRG Stadium. Mandatory Credit: Matthew Emmons-USA TODAY Sports
HOUSTON, TX - FEBRUARY 05: Devonta Freeman #24 of the Atlanta Falcons scores a touchdown on a 5 yard run agaisnt the New England Patriots in the second quarter during Super Bowl 51 at NRG Stadium on February 5, 2017 in Houston, Texas. (Photo by Gregory Shamus/Getty Images)
HOUSTON, TX - FEBRUARY 05: Tom Brady #12 of the New England Patriots walks off the field with teammates after a fumble in the second quarter against the Atlanta Falcons during Super Bowl 51 at NRG Stadium on February 5, 2017 in Houston, Texas. (Photo by Elsa/Getty Images)
Feb 5, 2017; Houston, TX, USA; Atlanta Falcons running back Devonta Freeman (24) scores a touchdown during the second quarter against the New England Patriots during Super Bowl LI at NRG Stadium. Mandatory Credit: Matthew Emmons-USA TODAY Sports
Feb 5, 2017; Houston, TX, USA; Atlanta Falcons cornerback Robert Alford (23) celebrates with the ball during the second quarter against the New England Patriots during Super Bowl LI at NRG Stadium. Mandatory Credit: Bob Donnan-USA TODAY Sports
Feb 5, 2017; Houston, TX, USA; Atlanta Falcons wide receiver Julio Jones (11) makes a first quarter catch with New England Patriots cornerback Eric Rowe (25) defending during Super Bowl LI at NRG Stadium. Mandatory Credit: Troy Taormina-USA TODAY Sports
HOUSTON, TX - FEBRUARY 05: Robert Alford #23 of the Atlanta Falcons scores an 82 yard touchdown after an interception against the New England Patriots during Super Bowl 51 at NRG Stadium on February 5, 2017 in Houston, Texas. (Photo by Elsa/Getty Images)
Feb 5, 2017; Houston, TX, USA; Lady Gaga performs during the halftime show during Super Bowl LI at NRG Stadium. Mandatory Credit: Eric Seals-USA TODAY Sports
Feb 5, 2017; Houston, TX, USA; Lady Gaga performs during the halftime show during Super Bowl LI at NRG Stadium. Mandatory Credit: Kevin Jairaj-USA TODAY Sports
Feb 5, 2017; Houston, TX, USA; New England Patriots running back James White (28) scores the winning touchdown past Atlanta Falcons free safety Ricardo Allen (37) and Robert Alford (23) in overtime during Super Bowl LI at NRG Stadium. Mandatory Credit: Robert Deutsch-USA TODAY Sports
Atlanta Falcons' Grady Jarrett (R) sacks New England Patriots' quarterback Tom Brady during the fourth quarter of Super Bowl LI in Houston, Texas, U.S., February 5, 2017. REUTERS/Richard Carson
Feb 5, 2017; Houston, TX, USA; New England Patriots wide receiver Danny Amendola (80) makes a catch for a long gain in overtime as Atlanta Falcons cornerback Brian Poole (34) defends during Super Bowl LI at NRG Stadium. Mandatory Credit: Troy Taormina-USA TODAY Sports
Feb 5, 2017; Houston, TX, USA; New England Patriots wide receiver Julian Edelman (11) catches a tipped pass just off the turf against the Atlanta Falcons in the fourth quarter during Super Bowl LI at NRG Stadium. Mandatory Credit: Richard Mackson-USA TODAY Sports
Atlanta Falcons' Tevin Coleman (L) celebrates with teammate Justin Hardy after scoring agains the New England Patriots during the third quarter of Super Bowl LI in Houston, Texas, U.S., February 5, 2017. REUTERS/Adrees Latif
Feb 5, 2017; Houston, TX, USA; Atlanta Falcons wide receiver Mohamed Sanu (12) is tackled by New England Patriots cornerback Logan Ryan (26) in the fourth quarter during Super Bowl LI at NRG Stadium. Mandatory Credit: Eric Seals-USA TODAY Sports
New England Patriots' quarterback Tom Brady smiles after his team defeated the Atlanta Falcons at Super Bowl LI in Houston, Texas, U.S., February 5, 2017. REUTERS/Adrees Latif
New England Patriots' head coach Bill Belichick (R) is interviewed by broadcaster Terry Bradshaw next to the Vince Lombardi trophy after the Patriots defeated the Atlanta Falcons to win Super Bowl LI in Houston, Texas, U.S., February 5, 2017. REUTERS/Adrees Latif
New England Patriots' quarterback Tom Brady celebrates with his children after his team defeated the Atlanta Falcons at Super Bowl LI in Houston, Texas, U.S., February 5, 2017. REUTERS/Adrees Latif
Feb 5, 2017; Houston, TX, USA; Gisele Bundchen and her daughter Vivian Brady celebrate after the game between the Atlanta Falcons and the New England Patriots during Super Bowl LI at NRG Stadium. The Patriots won 34-28. Mandatory Credit: Bob Donnan-USA TODAY Sports
Feb 5, 2017; Houston, TX, USA; Gisele B?ndchen with her husband New England Patriots quarterback Tom Brady (12) and their daughter after Super Bowl LI at NRG Stadium. Mandatory Credit: Troy Taormina-USA TODAY Sports
New England Patriots' owner Robert Kraft holds the Vince Lombardi trophy after his team defeated the Atlanta Falcons to win Super Bowl LI in Houston, Texas, U.S., February 5, 2017. REUTERS/Adrees Latif
Feb 5, 2017; Houston, TX, USA; New England Patriots head coach Bill Belichick and quarterback Tom Brady (12) celebrate after beating the Atlanta Falcons during Super Bowl LI at NRG Stadium. Mandatory Credit: Matthew Emmons-USA TODAY Sports
Feb 5, 2017; Houston, TX, USA; New England Patriots quarterback Tom Brady (12) celebrates after beating the Atlanta Falcons during Super Bowl LI at NRG Stadium. Mandatory Credit: Matthew Emmons-USA TODAY Sports
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