Is Matt Ryan retiring? Former NFL MVP sets record straight after following in Tom Brady's footsteps

Earlier on Monday, Matt Ryan took to social media to announce that he will join CBS Sports as an analyst for the 2023 NFL season. The quarterback added that he isn't formally retiring but is ready to pursue another career after football.

Ryan spent 14 seasons with the Atlanta Falcons before playing one season with the Indianapolis Colts in 2022.

Technically, Ryan is a free agent ahead of the 2023 campaign, but many fans believe that he won't be returning to the league as a player.

Ryan is following in the footsteps of his former rival Tom Brady, who retired in the 2023 offseason. The seven-time Super Bowl winner signed a mammoth 10-year, $375 million contract to become Fox Sports' lead analyst after his playing career.

However, Brady will begin his gig with the broadcast giants in the fall of 2024.

How much do Colts owe Matt Ryan if he doesn't retire this year?

Considering the Colts released the former NFL MVP earlier this year following a supremely disappointing campaign, Indy still has Ryan on their books.

According to The Athletic, the Colts still owe Ryan about $18 million.

"The Colts are still on the hook for roughly $18 million, which likely played a role in Ryan’s decision on whether or not to retire. If he had walked away from the game, the Colts would be off the hook. Instead, he’ll get paid quite handsomely not to play this fall," Zack Keefer wrote.

As things stand, Matt Ryan is technically a free agent.

Matt Ryan net worth: How much is 2016 NFL MVP worth in 2023?

Former Atlanta Falcons QB Matt Ryan

According to reports, Matt Ryan is worth around $75 million as of 2023. The quarterback made a small fortune during his 15-year stint in the NFL.

However, Ryan's net worth will continue to grow thanks to his contract with CBS next season. The exact details of his contract have not been revealed.

Ryan was picked by the Atlanta Falcons in the first round of the 2008 NFL Draft. He holds several franchise records with the team including passing yards, passing touchdowns, passer rating, and wins.

Matt Ryan led the Falcons to the Super Bowl in 2017 but Atlanta suffered a heartbreaking defeat against Tom Brady's New England Patriots at the final hurdle. The Falcons were leading the game 28–3 just after halftime but ended up losing 34-28 in overtime as the Patriots completed the biggest comeback in Super Bowl history.

In 2022, Ryan was traded to the Indianapolis Colts. He threw for 3,057 yards and 14 touchdowns against 13 interceptions during his lone season with the team.