Falcons, Ryan agree on five-year contract extension for $103.75 million

FILE - In this Jan. 20, 2013 file photo, Atlanta Falcons quarterback Matt Ryan passes the ball during the first half of the NFL football NFC Championship game against the San Francisco 49ers in Atlanta. At a time other top NFL quarterbacks are signing record contracts, Ryan is entering his contract season and could be offered an extension before the season. (AP Photo/Mark Humphrey, File)
FILE - In this Jan. 20, 2013 file photo, Atlanta Falcons quarterback Matt Ryan passes the ball during the first half of the NFL football NFC Championship game against the San Francisco 49ers in Atlanta. At a time other top NFL quarterbacks are signing record contracts, Ryan is entering his contract season and could be offered an extension before the season. (AP Photo/Mark Humphrey, File)

FLOWERY BRANCH, Ga. (AP) - Pro Bowl quarterback Matt Ryan and the Atlanta Falcons have agreed to terms on a five-year contract extension.

Falcons spokesman Reggie Roberts said Thursday that the deal was being finalized as Ryan led the offense through practice Thursday on the first day of training camp.

A person familiar with the situation says Ryan's extension is for $103.75 million deal, with $59 million guaranteed. The person says Ryan will average $20.75 million during the first three years of the extension. The person spoke to The Associated Press on condition of anonymity because the terms of the deal had not been announced.

Ryan, 28, is entering the sixth and final season of his original rookie contract and will earn a $10 million salary.