This has two implications

One, Indy is getting a really good QB.

Two, Atlanta has $62 million in dead cap money.
This is so bad I literally had to look up who was the GM. It is only his second year, so this is not on him.

Why would ATL want to be rid of him?

The Bills had $51 million in dead cap money in 2018 due to bone-headed decisions by the previous regime. In a case like that it is best to bite the bullet and go through salary- cap purgatory. The franchise will then be in a much better position going forward.

$40.5 million of that is just Ryan.
Marriotta is a decent back-up but not a valid starter, so it is obvious that Atlanta is rebuilding from scratch.

They just made it worse with the Von Miller deal. Miller is a good player, but they just gave him a buttload of $ that it will be tough for him to justify unless they win a SB.

Matt Ryan needed a change of scenery, and most Atlanta fans are kind of done with him. But he could do well in Indy.

From what I have read, it is essentially a three-year $53 million dollar deal. And, for the most part the Bills are getting good grades for the deal.

Side comment: Baker Mayfield had said he wanted to go to the Colts. This showed how much the Colts thought of him. Maybe this will humble Mayfield a bit while he waitd to see where he plays next year.