When the Atlanta Falcons signed quarterback Kirk Cousins to a four-year deal worth $180 million, it included two years of guaranteed money. In essence, it was a two-year deal for $100 million guaranteed.
So having Cousins as the starting quarterback in 2025 was always the plan for the Falcons when they signed him, but things haven’t worked out quite like they expected.
Cousins lost his starting job last year to rookie Michael Penix Jr., but he was reinstated as the full time starter after Penix was lost to a season-ending knee injury — his fifth season ending injury in his seven full seasons as a starter dating back to college.
The Falcons are 1-1 in Cousins’ two start since Penix went down. Atlanta went on the road to beat the 2-9 Saints and lost in New York to the 2-9 Jets.
With consecutive starts under his belt, Sports Illustrated’s Matt Verderame included Cousins on his weekly quarterback rankings, debuting at No. 27 ahead of J.J. McCarthy, Shedeur Sanders, Cam Ward, Tyer Shough, and Tyrod Taylor.
Taylor is the only quarterback behind Cousins who isn’t a rookie or in his first year as a starter (McCarthy).
“After this season, the Falcons can release Cousins and move on from one of the most disastrous contracts in NFL history in which Atlanta signed the former Viking to a four-year deal worth up to $180 million, including $110 million guaranteed,” Verderame wrote on Sports Illustrated. “Cousins came into the season benched for second-year man Michael Penix Jr., but he’s back due to Penix’s knee surgery. In five appearances this season, Cousins has only a positive EPA once, in a Week 13 loss to the Jets.”
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Cousins’ contract actually has $100 million of guaranteed money. It was originally $90 million, but he got another guaranteed $10 million bonus, due in 2026, for being on the roster in March. Still, Verderame’s main point is valid, the signing was a disaster.
The Falcons are facing a lot of possible changes this offseason, including possibly the coaching staff and general manager. When Cousins is released, he will count $35 million against the Falcons’ salary cap, a savings of $22.5 million ($57 million cap hit minus $35 million already paid via bonuses).
Whoever is in charge of the Falcons next season, whether it be general manager Terry Fontenot or someone else, can decide if he wants to take the entire $35 million dead money hit in 2026, or spread it across two seasons.
The Falcons faced a similar problem in 2022 with Matt Ryan, and Fontenot elected to take on a then-record $40.5 million dead cap hit in one season. After five straight losing seasons, Fontenot may be more apt to split the money across two seasons this time, but if he’s replaced, a new regime might just want to get the money out of the way in 2026.
And no, the Falcons won’t be keeping a $57 million, underachieving, 38-year old, wantaway quarterback, even if they’re not sure if Penix will be ready for the start of the season.
Another season that started with promise, ends with a truckload of offseason questions for the Falcons. Christmas might be right around the corner, but it feels an awful lot like Groundhog Day in Atlanta.