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Matthews and the Falcons have agreed to terms on a three-year contract extension, Ian Rapoport of NFL Network reports.

Matthews' extension frees up some essential cap space for the Falcons, while keeping the standout left tackle in the building for the foreseeable future. Per Rapoport, Matthews will receive $52.5 million over the next three seasons, and his salary averages out to $18.5 million per year. The 2014 first-round pick remains the pillar of Atlanta's offensive front.

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