Michael Penix Jr. has become the latest rookie quarterback to sign his contract with his new team.
The Atlanta Falcons quarterback signed his rookie deal on Friday, according to NFL insider Jordan Schulz. Penix’s four-year deal is worth $22.88 million and includes a $13.46 million signing bonus.
Sources: The #Falcons and rookie QB Michael Penix Jr. have agreed to terms on his rookie contract. The No. 8 overall pick gets a 4-year deal worth $22.88M. His signing bonus is $13.46M. pic.twitter.com/ZPfAHdF4ve
— Jordan Schultz (@Schultz_Report) June 21, 2024
Penix becomes the fourth of the six first-round rookie quarterbacks to sign his rookie deal. Only first overall pick Caleb Williams and No. 10 pick JJ McCarthy have yet to do so.
Penix is undoubtedly in the strangest situation of the rookie class. He arrives in Atlanta after they signed veteran Kirk Cousins to a long-term contract, meaning he will probably be sitting for a while. Cousins also does not appear to be enthralled with how the Falcons used the No. 8 pick, which could make for some strange dynamics now that Penix is a full go for training camp.
