Video: Matt Ryan Retires from NFL After 15 Seasons with Falcons, Colts; Won 2016 MVP

Matt Ryan signed a one-day contract with the Atlanta Falcons on Monday to announce his retirement from the NFL.

The former quarterback broadcasted for CBS during the 2023 season, but this makes his retirement from the NFL official.

Ryan last played in 2022 for the Indianapolis Colts, who released him in March 2023 after only one season. ESPN's Field Yates noted the Colts created $27.1 million in salary cap space just by moving on from Ryan and trading cornerback Stephon Gilmore to the Dallas Cowboys.

When Indianapolis acquired Ryan via trade from the Falcons before the 2022 season, NFL Network's Ian Rapoport reported his agent negotiated a $12 million guarantee for the 2023 campaign.

It was fair to wonder how much motivation there was for Ryan to play in 2023 at 38 years old given that guarantee, especially since his last season didn't go particularly well.

He was another stopgap quarterback for the Colts, who cycled through Ryan, Carson Wentz, Philip Rivers and Jacoby Brissett in recent years since Andrew Luck retired. Indianapolis went 4-7-1 in games Ryan started, temporarily benched him for Sam Ehlinger and then later benched him again for Nick Foles.

While it wasn't the season Ryan was looking for to end his career, he will always be remembered better for his 14 seasons with the Falcons.

The No. 3 overall pick of the 2008 NFL draft won the Offensive Rookie of the Year, was a four-time Pro Bowler, threw for more than 4,000 yards 10 times and made six playoff appearances during his tenure with Atlanta.

The 2016 campaign was his crowning achievement, as he won the league MVP while completing a career-high 69.9 percent of his passes for 4,944 yards, 38 touchdowns and seven interceptions.

It seemed like the season would end with a Lombardi Trophy when the Falcons jumped out to a 28-3 lead over the New England Patriots in Super Bowl LI, but Tom Brady further cemented his legacy by leading perhaps the best comeback in football history.

It was a difficult blow for Ryan, but he still leaves the game as one of the best quarterbacks of his generation. He finished his career seventh in NFL history in passing yards (62,792) and ninth in passing touchdowns (381).

Even in an era in which passing totals exploded, those numbers could eventually land him in the Hall of Fame after an excellent career.