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Colts set to cut ties with Matt Ryan, source says

INDIANAPOLIS -- The Indianapolis Colts have been squarely focused on the future of their quarterback position.

And that future is not expected to include Matt Ryan.

Indianapolis is planning to release the veteran quarterback and 2016 NFL Most Valuable Player, a team source confirmed to ESPN on Tuesday, which will bring an end to a disappointing single season as the Colts' starter.

The move comes just days before Ryan was due a $10 million roster bonus on Friday and will clear more than $17 million in salary-cap space.

Ryan and the Colts agreed to a restructured contract last year that called for $12 million of his 2023 base salary to be guaranteed, meaning the Colts will remain on the hook for that sum.