Updated Feb. 20, 2026, 12:31 p.m. ET

It took years for the Atlanta Falcons to get out of the salary cap hell after trading away Matt Ryan, and once they did, the team used that cap space give Kirk Cousins a four-year, $180 million contract. Cousins’ play did not match up to his paycheck, though, and the Falcons missed the playoffs in back-to-back seasons.

Team owner and chairman Arthur Blank cleaned house at the end of the year, hiring a new head coach, general manager and president of football. Next up, the Falcons must decide what to do with key free agents, including tight end Kyle Pitts.

The former No. 4 overall pick is set to enter free agency following arguably the best season of his NFL career. The Falcons could use the franchise tag on Pitts if they don’t want to commit to giving him a long-term contract, or they could let him walk altogether.

NFL.com‘s Kevin Patra put out a new feature breaking down the most overvalued and undervalued players in the 2026 free agency class. Pitts was listed among the most overvalued NFL free agents:

If the Falcons don’t franchise tag Pitts (estimated $16 million), the tight end will hit the market as the top playmaker at the position. The question is, which Kyle Pitts will a team be signing? Is he the player who generated 469 yards and four TDs on 39 catches over the final six games of 2025? Or, is he the inconsistent, drop-prone player who had 459 yards and one score on 49 catches through the first 11 games of the season? In the right system, one that uses him as a matchup target and asks him to block less, he could finally find the consistent upside that eluded him over his first five seasons. In the wrong offense, a team could rue spending big on the former No. 4 overall pick. — Kevin Patra, NFL.com

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Pitts’ up-and-down production throughout his five years in Atlanta may scare off some potential suitors, but the tight end has performed well when the quarterback play has been up to par. During Pitts’ rookie season when Matt Ryan was still the quarterback, Pitts was one of the best tight ends in the league.

He struggled when Marcus Mariota took over in 2022 before injuring his MCL at mid-season. Things didn’t get much better when Desmond Ridder stepped in the following year. Pitts seemed to forge a connection with Michael Penix Jr. later in the 2024 season, and that carried over to 2025.

However, there is undoubtedly some risk in paying a player who performed well in a contract year. And while the Falcons have to be aware of this, Pitts was the team’s leading receiver last season. Losing him would make things harder on Drake London, Bijan Robinson and the rest of Atlanta’s offense.

Pitts is just 25 years old and entering his physical prime. Letting him walk for nothing in free agency could come back to bite Atlanta. We’ll see what general manager Ian Cunningham has up his sleep when free agency starts on March 11.