The Atlanta Falcons on Tuesday made the big move and decided to switch from Kirk Cousins to Michael Penix Jr. at quarterback. The Falcons are 7-7 and trying to win the NFC South, so they have switched amid a slump for Cousins.
Atlanta’s entire quarterback strategy has been counfounding this year. First they went out and signed Cousins to a huge deal in free agency, and then they went out and drafted Penix at No. 8.
Why would they have signed Cousins for so much money if they liked Penix that much?
If Penix turns out to be as good as they think, then it won’t matter that they had signed Cousins to a huge deal. All they’ll have to do is look to trade him, cut him, or keep him on their roster.
But what kind of options do the Falcons have? Let’s take a look.
The Falcons signed Cousins to a 4-year, $180 million deal that included a $50 million signing bonus and $100 million guaranteed. If the Falcons were to cut Cousins ahead of the 2025 season, they would be charged with $65 million in dead money. If they were to cut him after the 2025 season, their dead cap charge would be reduced to $35 million.
Perhaps the best option for the Falcons is to trade Cousins.
If the Falcons were to trade Cousins, the acquiring team would have to pay the quarterback’s $27.5 million base salary for 2025. The Falcons would still have a $37.5 million charge for a trade.
The math:
🏈If the Falcons were to cut Kirk Cousins prior to the start of the 2025 league year, they would have $65 million in dead money.
🏈If they were to trade him, the $27.5M base salary guarantee would transfer over to the acquiring team, so then the Falcons would just be…
— Adam Schefter (@AdamSchefter) December 18, 2024
As bad as things may look for the Falcons financially, just remember that the Broncos were in a similar situation with Russell Wilson but are in playoff contention this season with Bo Nix at quarterback. There’s no reason to think the Falcons won’t be able to compete if Penix turns out to be good too.
