This study explores the functional relationship between protein kinase A (PKA) phosphorylation and binding of FK506 binding proteins (FKBP12/12.6) to the ryanodine receptor (RyR). The results show that the affinity of RyR1/2 binding to FKBP12/12.6 is greater when the channel is closed versus open. Phosphorylation and the drug K201 reduced this affinity by increasing the dissociation rate, shifting RyR to an open state. The findings support a model where phosphorylation and K201 similarly alter RyR conformation and regulate FKBP12/12.6 binding.