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Sept. 4 (UPI) -- The Atlanta Falcons are restructuring two contracts to free up additional salary-cap space for a potential contract extension with star wide receiver Julio Jones. League sources told ESPN and NFL Media on Wednesday the team is converting the base salaries of starting safety Ricardo Allen and left tackle Jake Matthews into signing bonuses to create about $5 million in cap space.
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The Falcons are converting $4.375 million of Matthews' $6.5 million base salary and $2.25 million of Allen's $3.5 million salary, according to ESPN. Atlanta, with minimal salary-cap space left, had about $3.5 million in cap space before veteran kicker Matt Bryant rejoined the team on a one-year deal worth about $3 million.
Jones has two years and more than $21 million remaining on his current contract. Falcons owner Arthur Blank told reporters Tuesday the team and Jones are "very, very close" to a deal.
"I'd be surprised and disappointed if we didn't get it done this week," Blank said. "I think it's very reasonable to assume it will get done this week."
Jones racked up a league-best 1,677 yards on 113 receptions last season. He added eight receiving touchdowns in 2018, the most he has tallied since the 2015 season.
The Falcons open the season on the road against the Minnesota Vikings on Sunday.
